Burney Co. Lowers Stock Position in Planet Fitness, Inc. $PLNT

Burney Co. decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 83.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,480 shares of the company’s stock after selling 16,998 shares during the period. Burney Co.’s holdings in Planet Fitness were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLNT. T. Rowe Price Investment Management Inc. boosted its stake in shares of Planet Fitness by 1.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock valued at $1,001,848,000 after buying an additional 149,503 shares in the last quarter. SRS Investment Management LLC raised its position in Planet Fitness by 4.5% in the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after acquiring an additional 212,145 shares in the last quarter. Steadfast Capital Management LP raised its position in Planet Fitness by 4.6% in the third quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock worth $196,077,000 after acquiring an additional 83,215 shares in the last quarter. Geode Capital Management LLC raised its position in Planet Fitness by 1.6% in the fourth 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. lifted its holdings in Planet Fitness by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after acquiring an additional 24,981 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $51.24 on Friday. The stock has a fifty day moving average price of $52.25 and a 200 day moving average price of $74.44. The stock has a market cap of $4.07 billion, a PE ratio of 18.50, a P/E/G ratio of 1.12 and a beta of 1.04. Planet Fitness, Inc. has a 1 year low of $37.03 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT) last posted 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. The company had revenue of $337.24 million for the quarter, compared to analyst estimates of $298.60 million. Planet Fitness had a negative return on equity of 81.29% and a net margin of 16.52%.Planet Fitness’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, equities research analysts predict that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLNT. Robert W. Baird set a $80.00 target price on shares of Planet Fitness in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank Of Canada reduced their price objective on shares of Planet Fitness from $85.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. UBS Group decreased their price objective on shares of Planet Fitness from $120.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Planet Fitness from $98.00 to $61.00 and set a “hold” rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.71.

Insider Activity at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke acquired 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $231,050. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by corporate 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.