Planet Fitness, Inc. $PLNT Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1,886.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,800 shares of the company’s stock after purchasing an additional 58,689 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Planet Fitness worth $6,726,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PLNT. T. Rowe Price Investment Management Inc. raised its stake in shares of Planet Fitness by 1.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock worth $1,001,848,000 after buying an additional 149,503 shares during the period. SRS Investment Management LLC grew its stake in Planet Fitness by 4.5% in the 4th quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock valued at $529,071,000 after acquiring an additional 212,145 shares during the period. Steadfast Capital Management LP grew its stake in Planet Fitness by 4.6% in the 3rd quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock valued at $196,077,000 after acquiring an additional 83,215 shares during the period. Geode Capital Management LLC increased its holdings in Planet Fitness by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company’s stock worth $179,924,000 after acquiring an additional 26,575 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after acquiring an additional 24,981 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PLNT. Robert W. Baird set a $80.00 price objective on shares of Planet Fitness in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Planet Fitness from $98.00 to $61.00 and set a “hold” rating for the company in a research report on Friday, May 8th. KeyCorp decreased their price target on shares of Planet Fitness from $100.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Piper Sandler cut Planet Fitness from an “overweight” rating to a “neutral” rating in a report on Friday, February 27th. Finally, KGI Securities lowered Planet Fitness to a “neutral” rating and set a $50.50 price objective for the company. in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.81.

Planet Fitness Stock Up 1.6%

Planet Fitness stock opened at $52.76 on Friday. The company has a fifty day simple moving average of $55.70 and a 200-day simple moving average of $78.42. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.13 and a beta of 1.04. Planet Fitness, Inc. has a 52-week low of $37.03 and a 52-week high of $114.47.

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

Insiders Place Their Bets

In related news, Director Frances G. Rathke bought 5,000 shares of the stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $231,050. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.

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.