Gotham Asset Management LLC Purchases 89,838 Shares of Planet Fitness, Inc. $PLNT

Gotham Asset Management LLC boosted its position in Planet Fitness, Inc. (NYSE:PLNT) by 33.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 355,809 shares of the company’s stock after purchasing an additional 89,838 shares during the period. Gotham Asset Management LLC’s holdings in Planet Fitness were worth $36,933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLNT. Norges Bank purchased a new stake in Planet Fitness in the 2nd quarter valued at about $116,175,000. Ninety One UK Ltd boosted its stake in shares of Planet Fitness by 20.0% in the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock worth $359,308,000 after buying an additional 577,637 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Planet Fitness by 152.8% in the second quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock valued at $92,896,000 after acquiring an additional 514,876 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Planet Fitness by 15.0% in the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock valued at $277,369,000 after acquiring an additional 332,362 shares in the last quarter. Finally, Freestone Grove Partners LP increased its position in shares of Planet Fitness by 149.2% during the third quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock valued at $54,768,000 after acquiring an additional 315,941 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLNT. Canaccord Genuity Group lifted their price target on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Stifel Nicolaus set a $105.00 price objective on Planet Fitness in a research note on Tuesday, February 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $175.00 target price on shares of Planet Fitness in a research report on Tuesday, February 24th. TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a research note on Tuesday, March 10th. Finally, Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $116.93.

Key Headlines Impacting 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 Stock Down 1.5%

Shares of NYSE:PLNT opened at $73.63 on Monday. The firm has a market capitalization of $5.89 billion, a PE ratio of 28.10, a P/E/G ratio of 1.28 and a beta of 1.25. The company has a 50-day moving average price of $90.91 and a two-hundred day moving average price of $98.84. Planet Fitness, Inc. has a twelve month low of $73.29 and a twelve month high of $114.47.

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

About Planet Fitness

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.