Bessemer Group Inc. Increases Stake in Planet Fitness, Inc. $PLNT

Bessemer Group Inc. lifted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 12.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 386,034 shares of the company’s stock after purchasing an additional 43,040 shares during the quarter. Bessemer Group Inc.’s holdings in Planet Fitness were worth $41,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLNT. Junto Capital Management LP purchased a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $73,603,000. Freestone Grove Partners LP raised its position in Planet Fitness by 149.2% during the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock worth $54,768,000 after buying an additional 315,941 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in Planet Fitness during the 3rd quarter worth approximately $28,515,000. Mane Global Capital Management LP purchased a new position in Planet Fitness during the 3rd quarter worth approximately $20,760,000. Finally, Sea Cliff Partners Management LP raised its position in Planet Fitness by 385.6% during the 2nd quarter. Sea Cliff Partners Management LP now owns 185,782 shares of the company’s stock worth $20,260,000 after buying an additional 147,527 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

NYSE:PLNT opened at $52.61 on Friday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 1.12 and a beta of 1.12. The company has a 50 day moving average price of $69.31 and a 200-day moving average price of $89.26. 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 firm had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 3.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PLNT shares. KeyCorp reduced their price target on shares of Planet Fitness from $100.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. KGI Securities lowered shares of Planet Fitness to a “neutral” rating and set a $50.50 price target for the company. in a research report on Friday, May 8th. Weiss Ratings lowered shares of Planet Fitness from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. 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. Finally, Jefferies Financial Group set a $133.00 price target on shares of Planet Fitness in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $78.62.

Insider Buying and Selling at Planet Fitness

In other news, Director Frances G. Rathke bought 5,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $46.21 per share, with a total value of $231,050.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $231,050. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently 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.