Planet Fitness (NYSE:PLNT) Trading 5.8% Higher Following Insider Buying Activity

Planet Fitness, Inc. (NYSE:PLNT)’s share price rose 5.8% on Tuesday following insider buying activity. The company traded as high as $50.74 and last traded at $51.23. Approximately 1,852,412 shares changed hands during trading, a decline of 11% from the average daily volume of 2,083,040 shares. The stock had previously closed at $48.40.

Specifically, Director Frances G. Rathke acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was purchased 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 owned 5,000 shares in the company, valued at $231,050. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several research firms have recently commented on PLNT. Weiss Ratings downgraded Planet Fitness from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. KGI Securities lowered Planet Fitness to a “neutral” rating and set a $50.50 price objective for the company. in a research report on Friday. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Wednesday, March 18th. Finally, Wells Fargo & Company dropped their price target on Planet Fitness from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus target price of $81.32.

Planet Fitness Stock Performance

The business’s fifty day moving average price is $71.80 and its two-hundred day moving average price is $90.50. The stock has a market capitalization of $4.08 billion, a P/E ratio of 18.39, a P/E/G ratio of 0.83 and a beta of 1.12.

Planet Fitness (NYSE:PLNT) last released 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. The firm had revenue of $337.24 million for the quarter, compared to the consensus estimate of $298.60 million. Planet Fitness had a negative return on equity of 81.29% and a net margin of 16.52%.The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, analysts forecast that Planet Fitness, Inc. will post 3.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Planet Fitness by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after purchasing an additional 24,981 shares during the period. Empowered Funds LLC purchased a new position in Planet Fitness in the first quarter worth approximately $1,891,000. EverSource Wealth Advisors LLC grew its holdings in shares of Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares during the period. First Trust Advisors LP increased its position in shares of Planet Fitness by 25.8% during the 2nd quarter. First Trust Advisors LP now owns 142,689 shares of the company’s stock worth $15,560,000 after purchasing an additional 29,305 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Planet Fitness in the 2nd quarter valued at $267,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.