Entropy Technologies LP Acquires Shares of 25,297 Planet Fitness, Inc. $PLNT

Entropy Technologies LP acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 25,297 shares of the company’s stock, valued at approximately $2,744,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. boosted its stake in shares of Planet Fitness by 101.0% during the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock valued at $3,058,000 after buying an additional 14,805 shares during the last quarter. Pelham Capital Ltd. bought a new position in Planet Fitness during the third quarter worth $12,841,000. Burney Co. acquired a new stake in Planet Fitness in the fourth quarter worth $2,221,000. Fred Alger Management LLC increased its position in Planet Fitness by 5.4% in the third quarter. Fred Alger Management LLC now owns 503,101 shares of the company’s stock worth $52,222,000 after buying an additional 25,719 shares during the period. Finally, Aberdeen Group plc acquired a new stake in Planet Fitness in the fourth quarter worth $10,688,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frances G. Rathke bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $46.21 per share, with a total value of $231,050.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $231,050. This represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on PLNT shares. William Blair lowered Planet Fitness from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Guggenheim lowered their price target on Planet Fitness from $126.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lowered their price target on Planet Fitness from $98.00 to $61.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Bank of America reissued a “neutral” rating and set a $59.00 price target (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. Finally, Piper Sandler lowered Planet Fitness from an “overweight” rating to a “neutral” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.81.

Planet Fitness Stock Down 0.1%

Shares of PLNT stock opened at $50.94 on Monday. The stock has a 50-day simple moving average of $59.85 and a 200 day simple moving average of $82.33. Planet Fitness, Inc. has a fifty-two week low of $37.03 and a fifty-two week high of $114.47. The stock has a market capitalization of $4.05 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.11 and a beta of 1.04.

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

Planet Fitness Company 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.