Planet Fitness, Inc. $PLNT Position Lifted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Planet Fitness, Inc. (NYSE:PLNT) by 136.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 69,000 shares of the company’s stock after purchasing an additional 39,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Planet Fitness were worth $2,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Planet Fitness by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,238,129 shares of the company’s stock worth $92,091,000 after acquiring an additional 21,914 shares during the last quarter. Van Berkom & Associates Inc. grew its holdings in Planet Fitness by 21.1% during the 1st quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company’s stock valued at $73,697,000 after purchasing an additional 172,586 shares during the last quarter. Bank of America Corp DE grew its holdings in Planet Fitness by 7.2% during the 1st quarter. Bank of America Corp DE now owns 779,251 shares of the company’s stock valued at $57,961,000 after purchasing an additional 52,289 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Planet Fitness by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 732,411 shares of the company’s stock valued at $54,477,000 after purchasing an additional 13,089 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Planet Fitness during the 2nd quarter valued at about $44,399,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Activity at Planet Fitness

In other Planet Fitness news, Director Christopher Tanco acquired 2,328 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was bought at an average cost of $51.23 per share, with a total value of $119,263.44. Following the completion of the purchase, the director directly owned 2,328 shares in the company, valued at $119,263.44. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Spinelli, Jr. bought 10,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were acquired at an average price of $49.28 per share, for a total transaction of $492,800.00. Following the completion of the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLNT. Royal Bank Of Canada reduced their price objective on shares of Planet Fitness from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. Wells Fargo & Company restated an “overweight” rating on shares of Planet Fitness in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $55.00 target price on shares of Planet Fitness in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price target on Planet Fitness from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Cantor Fitzgerald set a $62.00 price target on Planet Fitness in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $69.55.

Planet Fitness Stock Up 3.9%

Shares of NYSE PLNT opened at $55.67 on Tuesday. Planet Fitness, Inc. has a twelve month low of $37.03 and a twelve month high of $114.26. The firm has a market cap of $4.21 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.13 and a beta of 1.05. The business has a fifty day simple moving average of $48.80 and a two-hundred day simple moving average of $62.15.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.03. The business had revenue of $365.22 million for the quarter, compared to the consensus estimate of $356.21 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, research analysts expect that Planet Fitness, Inc. will post 3.22 earnings per share for the current year.

About Planet Fitness

Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. The company follows a “high-value, low-price” model designed to make gym memberships accessible to a broad range of consumers. Its clubs offer cardiovascular and strength-training equipment, group and individual exercise areas, and a welcoming environment known as the “Judgement Free Zone.”

Planet Fitness generates revenue primarily through membership dues, franchise royalties and fees, and sales of merchandise and other services.