T. Rowe Price Investment Management Inc. Buys 149,503 Shares of Planet Fitness, Inc. $PLNT

T. Rowe Price Investment Management Inc. lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,236,173 shares of the company’s stock after purchasing an additional 149,503 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 11.09% of Planet Fitness worth $1,001,848,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Corient Private Wealth LLC grew its stake in shares of Planet Fitness by 87.4% during the fourth quarter. Corient Private Wealth LLC now owns 9,347 shares of the company’s stock valued at $1,014,000 after purchasing an additional 4,360 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Planet Fitness by 62.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,994 shares of the company’s stock worth $433,000 after buying an additional 1,536 shares in the last quarter. Owlhouse Capital LP bought a new position in Planet Fitness in the 4th quarter valued at $8,320,000. Empowered Funds LLC bought a new position in Planet Fitness in the 4th quarter valued at $2,328,000. Finally, Susquehanna Portfolio Strategies LLC boosted its position in Planet Fitness by 203.4% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 65,840 shares of the company’s stock valued at $7,142,000 after buying an additional 44,140 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PLNT. Canaccord Genuity Group set a $80.00 price target on Planet Fitness in a research note on Friday, May 8th. Stifel Nicolaus cut their target price on shares of Planet Fitness from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. TD Cowen reaffirmed a “hold” rating on shares of Planet Fitness in a research note on Friday, May 29th. Zacks Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, Bank of America reiterated a “neutral” rating and set a $59.00 price target (down from $110.00) on shares of Planet Fitness in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.81.

Insiders Place Their Bets

In other news, Director Frances G. Rathke bought 5,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $231,050. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

Planet Fitness Trading Up 5.4%

Planet Fitness stock opened at $52.92 on Friday. The firm has a market capitalization of $4.20 billion, a P/E ratio of 19.11, a PEG ratio of 1.09 and a beta of 1.04. The business has a 50-day moving average of $58.04 and a 200-day moving average of $80.61. Planet Fitness, Inc. has a 1 year low of $37.03 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $337.24 million for the quarter, compared to the consensus estimate of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. Planet Fitness’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Research analysts anticipate that Planet Fitness, Inc. will post 3.18 EPS for the current fiscal year.

Planet Fitness 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.