Planet Fitness (NYSE:PLNT) Shares Down 5.1% – What’s Next?

Planet Fitness, Inc. (NYSE:PLNT) was down 5.1% during mid-day trading on Monday . The stock traded as low as $47.08 and last traded at $46.9710. Approximately 1,195,576 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 2,068,563 shares. The stock had previously closed at $49.49.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Cantor Fitzgerald set a $62.00 price objective on Planet Fitness in a research note on Thursday, July 9th. Wells Fargo & Company reiterated an “overweight” rating on shares of Planet Fitness in a research note on Monday, July 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Planet Fitness in a report on Monday, September 14th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $62.00 price target on shares of Planet Fitness in a research report on Friday, August 7th. One equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.24.

Planet Fitness Trading Down 1.3%

The company has a market cap of $3.17 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 1.01 and a beta of 1.01. The stock’s 50 day moving average price is $52.02 and its 200 day moving average price is $58.06.

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

Insider Transactions at Planet Fitness

In related news, Director Stephen Spinelli, Jr. bought 10,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $49.28 per share, for a total transaction of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares in the company, valued at $2,243,028.48. This represents a 28.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William Bode sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $51.22, for a total transaction of $358,540.00. Following the completion of the sale, the chief operating officer directly owned 32,939 shares of the company’s stock, valued at approximately $1,687,135.58. This represents a 17.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Planet Fitness

Large investors have recently bought and sold shares of the stock. Engineers Gate Manager LP bought a new position in Planet Fitness in the second quarter valued at about $1,859,000. Entropy Technologies LP bought a new position in shares of Planet Fitness in the fourth quarter worth about $2,744,000. Osborne Partners Capital Management LLC lifted its holdings in shares of Planet Fitness by 110.6% in the first quarter. Osborne Partners Capital Management LLC now owns 152,197 shares of the company’s stock worth $11,320,000 after acquiring an additional 79,915 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Planet Fitness in the 2nd quarter valued at approximately $44,399,000. Finally, WCM Investment Management LLC boosted its stake in shares of Planet Fitness by 58.3% in the 1st quarter. WCM Investment Management LLC now owns 265,134 shares of the company’s stock valued at $19,548,000 after purchasing an additional 97,697 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.