ABN AMRO Bank N.V. Grows Position in Planet Fitness, Inc. $PLNT

ABN AMRO Bank N.V. increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 36.9% in the first quarter, Holdings Channel.com reports. The fund owned 164,797 shares of the company’s stock after purchasing an additional 44,404 shares during the period. ABN AMRO Bank N.V.’s holdings in Planet Fitness were worth $12,395,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Planet Fitness by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after purchasing an additional 24,981 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Planet Fitness in the first quarter worth about $1,891,000. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 214 shares in the last quarter. First Trust Advisors LP boosted its stake in Planet Fitness by 25.8% during the second quarter. First Trust Advisors LP now owns 142,689 shares of the company’s stock valued at $15,560,000 after buying an additional 29,305 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Planet Fitness during the second quarter valued at approximately $267,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Frances G. Rathke acquired 5,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were acquired at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $231,050. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on PLNT shares. Wells Fargo & Company reduced their price objective on Planet Fitness from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Bank of America reiterated a “neutral” rating and set a $59.00 target price (down from $110.00) on shares of Planet Fitness in a research report on Friday, May 8th. TD Cowen reissued a “hold” rating on shares of Planet Fitness in a report on Friday, May 29th. Canaccord Genuity Group set a $80.00 price target on shares of Planet Fitness in a research report on Friday, May 8th. Finally, Morgan Stanley downgraded shares of Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 price target on the stock. in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.81.

Planet Fitness Price Performance

Shares of PLNT stock opened at $52.76 on Friday. The company has a market cap of $4.19 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04. The stock’s 50 day simple moving average is $55.70 and its two-hundred day simple moving average is $78.42. Planet Fitness, Inc. has a 1 year low of $37.03 and a 1 year high of $114.47.

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

Planet Fitness 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.