CIBC Bancorp USA Inc. Buys New Stake in Planet Fitness, Inc. $PLNT

CIBC Bancorp USA Inc. purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the third quarter, according to its most recent filing with the SEC. The fund purchased 274,707 shares of the company’s stock, valued at approximately $28,515,000.

Several other hedge funds have also bought and sold shares of PLNT. EverSource Wealth Advisors LLC boosted its holdings in shares of Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Planet Fitness by 51.9% in the third quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after purchasing an additional 138 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in shares of Planet Fitness by 6,950.0% in the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after buying an additional 417 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Planet Fitness in the third quarter worth about $44,000. Finally, Smartleaf Asset Management LLC boosted its stake in Planet Fitness by 131.8% during the third quarter. Smartleaf Asset Management LLC now owns 445 shares of the company’s stock valued at $47,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PLNT. TD Cowen restated a “buy” rating on shares of Planet Fitness in a report on Tuesday, March 10th. Royal Bank Of Canada lowered their target price on Planet Fitness from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Stifel Nicolaus set a $105.00 target price on shares of Planet Fitness in a report on Tuesday, February 24th. JPMorgan Chase & Co. reduced their price target on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a research note on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.93.

Planet Fitness Trading Up 0.8%

PLNT opened at $74.61 on Thursday. The stock has a 50-day moving average of $89.08 and a 200 day moving average of $98.23. Planet Fitness, Inc. has a 12 month low of $73.01 and a 12 month high of $114.47. The firm has a market cap of $5.97 billion, a P/E ratio of 28.48, a P/E/G ratio of 1.29 and a beta of 1.25.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $376.26 million for the quarter, compared to the consensus estimate of $366.48 million. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.