Osborne Partners Capital Management LLC Increases Stake in Planet Fitness, Inc. $PLNT

Osborne Partners Capital Management LLC lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 110.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,197 shares of the company’s stock after buying an additional 79,915 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Planet Fitness were worth $11,320,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its holdings in Planet Fitness by 1.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock valued at $1,001,848,000 after acquiring an additional 149,503 shares in the last quarter. SRS Investment Management LLC lifted its stake in Planet Fitness by 4.5% in the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after acquiring an additional 212,145 shares during the last quarter. Steadfast Capital Management LP grew its holdings in Planet Fitness by 4.6% during the 3rd quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock worth $196,077,000 after acquiring an additional 83,215 shares in the last quarter. Geode Capital Management LLC grew its holdings in Planet Fitness by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company’s stock worth $179,924,000 after acquiring an additional 26,575 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after purchasing an additional 24,981 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Trading Down 0.1%

PLNT stock opened at $53.40 on Friday. Planet Fitness, Inc. has a twelve month low of $37.03 and a twelve month high of $114.47. The company’s 50 day moving average is $53.74 and its two-hundred day moving average is $76.48. The stock has a market cap of $4.24 billion, a P/E ratio of 19.28, a PEG ratio of 1.16 and a beta of 1.04.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. The business 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 company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, equities research analysts predict that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Frances G. Rathke purchased 5,000 shares of Planet Fitness stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average cost of $46.21 per share, with a total value of $231,050.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $231,050. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Guggenheim reduced their price objective on shares of Planet Fitness from $126.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Roth Mkm dropped their target price on Planet Fitness from $109.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Bank of America reissued a “neutral” rating and issued a $59.00 target price (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. Wells Fargo & Company cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Planet Fitness from $98.00 to $61.00 and set a “hold” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.