Planet Fitness, Inc. $PLNT Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,443 shares of the company’s stock after selling 23,036 shares during the period. Nordea Investment Management AB owned about 0.20% of Planet Fitness worth $18,178,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PLNT. Ninety One UK Ltd boosted its stake in shares of Planet Fitness by 20.0% in the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock worth $359,308,000 after acquiring an additional 577,637 shares during the last quarter. Invesco Ltd. raised its stake in Planet Fitness by 15.0% in the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock valued at $277,369,000 after purchasing an additional 332,362 shares during the last quarter. Dorsal Capital Management LP lifted its holdings in Planet Fitness by 7.6% in the 2nd quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock valued at $269,899,000 after purchasing an additional 175,000 shares in the last quarter. Steadfast Capital Management LP lifted its holdings in Planet Fitness by 4.6% in the 3rd quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock valued at $196,077,000 after purchasing an additional 83,215 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Planet Fitness by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after purchasing an additional 24,981 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. TD Cowen reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Tuesday, March 10th. Royal Bank Of Canada decreased their target price on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.93.

Planet Fitness Trading Up 0.4%

Shares of NYSE:PLNT opened at $75.25 on Wednesday. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 1.30 and a beta of 1.25. Planet Fitness, Inc. has a 12-month low of $73.01 and a 12-month high of $114.47. The business has a 50-day moving average price of $86.86 and a 200 day moving average price of $97.41.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, February 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $376.26 million for the quarter, compared to analysts’ expectations of $366.48 million. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. Planet Fitness’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. As a group, equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal 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.