Bank of New York Mellon Corp Sells 70,354 Shares of Planet Fitness, Inc. $PLNT

Bank of New York Mellon Corp decreased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 8.9% during the fourth quarter, HoldingsChannel reports. The fund owned 719,322 shares of the company’s stock after selling 70,354 shares during the quarter. Bank of New York Mellon Corp’s holdings in Planet Fitness were worth $78,025,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PLNT. V Square Quantitative Management LLC bought a new position in shares of Planet Fitness in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares during the last quarter. Clearstead Advisors LLC grew its holdings in Planet Fitness by 135.9% during the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 193 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Planet Fitness by 51.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after acquiring an additional 138 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Planet Fitness by 131.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 445 shares of the company’s stock worth $47,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke purchased 5,000 shares of Planet Fitness stock in a transaction on Friday, May 8th. The stock was bought at an average cost of $46.21 per share, with a total value of $231,050.00. Following the transaction, the director owned 5,000 shares of the company’s stock, valued at $231,050. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Planet Fitness Stock Up 0.4%

Shares of Planet Fitness stock opened at $50.92 on Wednesday. The firm has a market capitalization of $4.04 billion, a P/E ratio of 18.38, a PEG ratio of 1.10 and a beta of 1.04. The company has a 50 day moving average price of $61.20 and a 200 day moving average price of $83.53. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. The firm had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. Planet Fitness’s revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, research analysts anticipate that Planet Fitness, Inc. will post 3.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLNT. KeyCorp dropped their target price on shares of Planet Fitness from $100.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Royal Bank Of Canada dropped their target price on shares of Planet Fitness from $85.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Morgan Stanley cut shares of Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 target price on the stock. in a report on Friday, May 8th. Piper Sandler lowered shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a research report on Friday, February 27th. Finally, Stifel Nicolaus decreased their price target on shares of Planet Fitness from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.81.

Planet Fitness Company Profile

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.