Geode Capital Management LLC Acquires 26,575 Shares of Planet Fitness, Inc. $PLNT

Geode Capital Management LLC lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,658,435 shares of the company’s stock after acquiring an additional 26,575 shares during the period. Geode Capital Management LLC owned approximately 1.99% of Planet Fitness worth $179,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Citigroup Inc. raised its position in shares of Planet Fitness by 101.0% in the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock worth $3,058,000 after acquiring an additional 14,805 shares in the last quarter. Pelham Capital Ltd. acquired a new stake in shares of Planet Fitness in the 3rd quarter valued at about $12,841,000. Impax Asset Management Group plc grew its stake in shares of Planet Fitness by 22.0% in the 3rd quarter. Impax Asset Management Group plc now owns 194,271 shares of the company’s stock valued at $20,165,000 after buying an additional 35,000 shares during the period. Burney Co. acquired a new stake in shares of Planet Fitness in the 4th quarter valued at about $2,221,000. Finally, Fred Alger Management LLC grew its stake in shares of Planet Fitness by 5.4% in the 3rd quarter. Fred Alger Management LLC now owns 503,101 shares of the company’s stock valued at $52,222,000 after buying an additional 25,719 shares during the period. 95.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PLNT shares. Weiss Ratings downgraded Planet Fitness from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Piper Sandler downgraded Planet Fitness from an “overweight” rating to a “neutral” rating in a research note on Friday, February 27th. KGI Securities downgraded Planet Fitness to a “neutral” rating and set a $50.50 target price for the company. in a research note on Friday, May 8th. KeyCorp reduced their target price on Planet Fitness from $100.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Canaccord Genuity Group set a $80.00 target price on Planet Fitness 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, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $77.81.

Planet Fitness Stock Performance

PLNT stock opened at $51.44 on Thursday. The company has a market capitalization of $4.09 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 1.16 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. The business has a 50-day simple moving average of $63.13 and a two-hundred day simple moving average of $85.03.

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

Insider Transactions at Planet Fitness

In related news, Director Frances G. Rathke purchased 5,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $231,050. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.

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.