OP Asset Management Ltd Invests $852,000 in Planet Fitness, Inc. $PLNT

OP Asset Management Ltd purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 11,457 shares of the company’s stock, valued at approximately $852,000.

Several other large investors have also recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in Planet Fitness in the 4th quarter worth about $27,000. Clearstead Advisors LLC increased its stake in Planet Fitness by 135.9% during the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Planet Fitness in the fourth quarter worth about $41,000. Finally, Danske Bank A S bought a new position in shares of Planet Fitness in the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 2.2%

Shares of NYSE PLNT opened at $51.57 on Tuesday. The firm’s 50-day moving average price is $55.30 and its 200-day moving average price is $77.81. The company has a market cap of $4.10 billion, a PE ratio of 18.62, a PEG ratio of 1.15 and a beta of 1.04. Planet Fitness, Inc. has a 52-week low of $37.03 and a 52-week high of $114.47.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data 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. The firm had revenue of $337.24 million during the quarter, compared to analysts’ expectations of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 3.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frances G. Rathke bought 5,000 shares of the business’s stock in a transaction 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 transaction, the director owned 5,000 shares in the company, valued at approximately $231,050. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. 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 report on Friday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Planet Fitness from $98.00 to $61.00 and set a “hold” rating for the company in a report on Friday, May 8th. Wells Fargo & Company cut their target price on Planet Fitness from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Roth Mkm reduced their target price on Planet Fitness from $109.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Morgan Stanley cut Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 price target for the company. in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.81.

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.