Insider Buying: Planet Fitness (NYSE:PLNT) Director Buys $119,263.44 in Stock

Planet Fitness, Inc. (NYSE:PLNT) Director Christopher Tanco acquired 2,328 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average cost of $51.23 per share, for a total transaction of $119,263.44. Following the completion of the purchase, the director owned 2,328 shares in the company, valued at $119,263.44. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Planet Fitness Trading Down 0.9%

Shares of PLNT opened at $49.48 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of 16.77, a PEG ratio of 1.08 and a beta of 1.01. The company has a 50-day moving average of $52.26 and a two-hundred day moving average of $58.75. Planet Fitness, Inc. has a 12-month low of $37.03 and a 12-month high of $114.26.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.85 by $0.03. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The business had revenue of $365.22 million for the quarter, compared to analyst estimates of $356.21 million. During the same period in the prior year, the business earned $0.86 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, analysts forecast that Planet Fitness, Inc. will post 3.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of analyst reports. Robert W. Baird set a $72.00 price target on Planet Fitness in a report on Friday, August 7th. TD Cowen reiterated a “hold” rating on shares of Planet Fitness in a research report on Friday, May 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Planet Fitness in a research note on Monday. Morgan Stanley upped their target price on shares of Planet Fitness from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Finally, Canaccord Genuity Group lifted their price target on shares of Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 20th. One research 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 MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $70.24.

Hedge Funds Weigh In On Planet Fitness

Large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 buying an additional 149,503 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $179,924,000 after acquiring an additional 26,575 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Planet Fitness by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,238,129 shares of the company’s stock valued at $92,091,000 after acquiring an additional 21,914 shares during the period. Norges Bank acquired a new stake in Planet Fitness during the fourth quarter worth about $108,796,000. Finally, Van Berkom & Associates Inc. increased its stake in Planet Fitness by 21.1% during the first quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company’s stock worth $73,697,000 after acquiring an additional 172,586 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Company Profile

Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. Its clubs provide access to cardiovascular and strength-training equipment, free weights, locker rooms, and other basic fitness amenities in a low-cost, welcoming environment designed to appeal to a broad range of consumers.

The company is known for its “Judgement Free Zone” concept, which emphasizes an approachable atmosphere for first-time, casual, and experienced gym users.