Franklin Resources Inc. Lowers Stock Position in Planet Fitness, Inc. $PLNT

Franklin Resources Inc. cut its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 35.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 926,108 shares of the company’s stock after selling 518,022 shares during the period. Franklin Resources Inc.’s holdings in Planet Fitness were worth $100,455,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Fiera Capital Corp grew its position in shares of Planet Fitness by 32.9% during the fourth quarter. Fiera Capital Corp now owns 427,517 shares of the company’s stock worth $46,373,000 after acquiring an additional 105,851 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Planet Fitness during the fourth quarter worth approximately $41,000. Havemeyer Place LP purchased a new position in shares of Planet Fitness during the fourth quarter worth approximately $1,127,000. Argonautica Private Wealth Management Inc. purchased a new position in shares of Planet Fitness during the fourth quarter worth approximately $589,000. Finally, Parallel Advisors LLC grew its position in shares of Planet Fitness by 300.9% during the fourth quarter. Parallel Advisors LLC now owns 930 shares of the company’s stock worth $101,000 after acquiring an additional 698 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLNT has been the topic of a number of research reports. Canaccord Genuity Group set a $80.00 target price on shares of Planet Fitness in a research report on Friday, May 8th. Bank of America reaffirmed a “neutral” rating and set a $59.00 price target (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Planet Fitness from $98.00 to $61.00 and set a “hold” rating for the company in a report on Friday, May 8th. UBS Group decreased their price target on Planet Fitness from $120.00 to $79.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Guggenheim decreased their price target on Planet Fitness from $126.00 to $95.00 and set a “buy” rating for the company in a report 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.81.

Insider Buying and Selling

In other news, Director Frances G. Rathke bought 5,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director owned 5,000 shares of the company’s stock, valued at $231,050. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is owned by company insiders.

Planet Fitness Stock Performance

Planet Fitness stock opened at $50.65 on Thursday. Planet Fitness, Inc. has a one year low of $37.03 and a one year high of $114.47. The business has a fifty day moving average of $60.74 and a two-hundred day moving average of $83.15. The company has a market cap of $4.02 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.11 and a beta of 1.04.

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, topping the consensus estimate 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 business’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Sell-side analysts predict that Planet Fitness, Inc. will post 3.18 EPS for the current year.

About Planet Fitness

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.