Two Creeks Capital Management LP Increases Position in Planet Fitness, Inc. $PLNT

Two Creeks Capital Management LP increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 548,040 shares of the company’s stock after purchasing an additional 7,061 shares during the quarter. Planet Fitness makes up 4.1% of Two Creeks Capital Management LP’s holdings, making the stock its 13th largest position. Two Creeks Capital Management LP’s holdings in Planet Fitness were worth $56,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLNT. Inceptionr LLC bought a new stake in shares of Planet Fitness in the 2nd quarter valued at about $356,000. ABN AMRO Bank N.V. acquired a new stake in Planet Fitness in the second quarter valued at approximately $13,214,000. Citigroup Inc. grew its holdings in Planet Fitness by 101.0% in the third quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock worth $3,058,000 after purchasing an additional 14,805 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Planet Fitness by 21.0% during the third quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock worth $78,170,000 after purchasing an additional 130,687 shares in the last quarter. Finally, Pelham Capital Ltd. purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at $12,841,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PLNT shares. Guggenheim raised Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Piper Sandler downgraded shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a report on Friday, February 27th. KeyCorp initiated coverage on shares of Planet Fitness in a research report on Thursday. They issued an “overweight” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $116.93.

Trending Headlines about Planet Fitness

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Jefferies reiterated a Buy and kept an aggressive $175 price target, calling the interim CFO appointment a stabilizing move; that bullish stance signals large upside versus current levels. Jefferies Maintains a Buy Rating on Planet Fitness, Inc. (PLNT) with a $175 Price Target
• Positive Sentiment: KeyBanc (KeyCorp) initiated coverage with an Overweight/“overweight”/“strong-buy” stance and a $100 price target (roughly mid/high double-digit upside), adding another institutional buy-side endorsement. KeyBanc initiates coverage of Planet Fitness (PLNT) with overweight recommendation
• Positive Sentiment: Wells Fargo also initiated coverage with an Overweight recommendation, adding to the recent wave of analyst support and potential demand from institutional buyers. Wells Fargo & Company Initiates Coverage on Planet Fitness (NYSE:PLNT)
• Positive Sentiment: Multiple analyst roundups (TipRanks/Globe and Mail coverage) highlight bullish sentiment on consumer-cyclical names including PLNT, reinforcing the analyst momentum behind the stock. Analysts Offer Insights on Consumer Cyclical Companies: Planet Fitness (PLNT)
• Neutral Sentiment: The company’s interim CFO appointment has drawn analyst attention to Planet Fitness’s valuation and balance sheet — a watchpoint that could slow upside until clarity on debt strategy and financial cadence emerges. Planet Fitness Interim CFO Shift Puts Valuation And Debt In Focus
• Negative Sentiment: Pomerantz LLP launched an investor investigation into Planet Fitness, which introduces litigation risk and may pressure the stock until details and potential exposures are clarified. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Planet Fitness, Inc. – PLNT

Planet Fitness Trading Down 1.5%

Planet Fitness stock opened at $73.63 on Friday. The firm has a market cap of $5.89 billion, a PE ratio of 28.10, a P/E/G ratio of 1.30 and a beta of 1.25. Planet Fitness, Inc. has a 12 month low of $73.29 and a 12 month high of $114.47. The stock’s 50 day simple moving average is $90.91 and its two-hundred day simple moving average is $98.93.

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