Planet Fitness (NYSE:PLNT) Trading 5.8% Higher on Insider Buying Activity

Planet Fitness, Inc. (NYSE:PLNT)’s share price traded up 5.8% during trading on Tuesday following insider buying activity. The company traded as high as $50.74 and last traded at $51.23. 1,852,412 shares were traded during trading, a decline of 11% from the average session volume of 2,083,040 shares. The stock had previously closed at $48.40.

Specifically, Director Frances G. Rathke acquired 5,000 shares of the business’s 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 completion of the acquisition, the director owned 5,000 shares in the company, valued at $231,050. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLNT. Bank of America reaffirmed a “neutral” rating and issued a $59.00 target price (down from $110.00) on shares of Planet Fitness in a research note on Friday. Weiss Ratings downgraded shares of Planet Fitness from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Piper Sandler cut shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a research report on Friday, February 27th. Macquarie Infrastructure decreased their price objective on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.32.

Planet Fitness Price Performance

The firm’s fifty day moving average is $71.80 and its 200-day moving average is $90.50. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 0.83 and a beta of 1.12.

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 analysts’ consensus estimates of $0.63 by $0.11. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The firm had revenue of $337.24 million during the quarter, compared to the consensus estimate of $298.60 million. During the same period in the prior year, the firm earned $0.59 EPS. The company’s revenue 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. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 3.24 EPS for the current year.

Hedge Funds Weigh In On Planet Fitness

Large investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its holdings in 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 acquiring an additional 149,503 shares during the period. SRS Investment Management LLC grew its position in shares of Planet Fitness by 4.5% during the 4th quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock valued at $529,071,000 after purchasing an additional 212,145 shares in the last quarter. Steadfast Capital Management LP increased its holdings in shares of 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 purchasing an additional 83,215 shares during the period. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 26,575 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Planet Fitness by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after buying an additional 24,981 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

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.