Engineers Gate Manager LP Invests $1.86 Million in Planet Fitness, Inc. $PLNT

Engineers Gate Manager LP bought a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 35,624 shares of the company’s stock, valued at approximately $1,859,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Coldstream Capital Management Inc. grew its stake in Planet Fitness by 4.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,782 shares of the company’s stock valued at $410,000 after acquiring an additional 168 shares in the last quarter. Clearstead Advisors LLC lifted its stake in Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 193 shares in the last quarter. Allworth Financial LP lifted its stake in Planet Fitness by 15.5% in the 2nd quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock worth $89,000 after purchasing an additional 228 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of Planet Fitness by 3.9% during the 2nd quarter. Fulton Bank N.A. now owns 6,956 shares of the company’s stock worth $363,000 after purchasing an additional 262 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Planet Fitness by 34.1% during the 4th quarter. Larson Financial Group LLC now owns 1,145 shares of the company’s stock worth $124,000 after purchasing an additional 291 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Planet Fitness stock opened at $50.81 on Wednesday. The company’s 50 day simple moving average is $52.36 and its 200-day simple moving average is $59.28. Planet Fitness, Inc. has a 1 year low of $37.03 and a 1 year high of $114.26. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.03. The business had revenue of $365.22 million during the quarter, compared to analysts’ expectations of $356.21 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Equities analysts expect that Planet Fitness, Inc. will post 3.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group set a $106.00 price target on Planet Fitness in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on Planet Fitness from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Monday, July 20th. Robert W. Baird set a $72.00 price target on Planet Fitness in a report on Friday, August 7th. Finally, Weiss Ratings cut shares of Planet Fitness from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.24.

Insider Activity at Planet Fitness

In related news, Director Stephen Spinelli, Jr. acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $49.28 per share, with a total value of $492,800.00. Following the completion of the transaction, the director owned 45,516 shares of the company’s stock, valued at $2,243,028.48. The trade was a 28.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Planet Fitness Company Profile

Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. Its clubs provide access to cardiovascular and strength-training equipment, free weights, locker rooms, and other basic fitness amenities in a low-cost, welcoming environment designed to appeal to a broad range of consumers.

The company is known for its “Judgement Free Zone” concept, which emphasizes an approachable atmosphere for first-time, casual, and experienced gym users.