Planet Fitness, Inc. $PLNT Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Increases Position

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 136.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 69,000 shares of the company’s stock after buying an additional 39,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.09% of Planet Fitness worth $2,913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PLNT. Versant Capital Management Inc lifted its stake in shares of Planet Fitness by 285.9% in the 2nd quarter. Versant Capital Management Inc now owns 494 shares of the company’s stock valued at $26,000 after purchasing an additional 366 shares during the period. Fortitude Family Office LLC bought a new stake in shares of Planet Fitness in the third quarter worth $32,000. Mather Group LLC. increased its position in shares of Planet Fitness by 163.3% during the 3rd quarter. Mather Group LLC. now owns 790 shares of the company’s stock valued at $33,000 after purchasing an additional 490 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Planet Fitness during the third quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its position in Planet Fitness by 142.6% in the first quarter. EverSource Wealth Advisors LLC now owns 985 shares of the company’s stock worth $73,000 after acquiring an additional 579 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PLNT shares. Cantor Fitzgerald set a $62.00 price target on shares of Planet Fitness in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $55.00 target price on shares of Planet Fitness in a report on Wednesday, July 22nd. Robert W. Baird decreased their target price on Planet Fitness from $72.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. Canaccord Genuity Group lifted their price objective on Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Planet Fitness in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.55.

Planet Fitness Stock Up 3.9%

Shares of NYSE:PLNT opened at $55.67 on Tuesday. The firm has a fifty day simple moving average of $48.80 and a two-hundred day simple moving average of $62.15. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.26. The stock has a market capitalization of $4.21 billion, a P/E ratio of 18.87, a PEG ratio of 1.13 and a beta of 1.05.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.03. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The firm had revenue of $365.22 million for the quarter, compared to analysts’ expectations of $356.21 million. During the same period in the prior year, the company earned $0.86 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, analysts expect that Planet Fitness, Inc. will post 3.22 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen Spinelli, Jr. acquired 10,000 shares of Planet Fitness stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $49.28 per share, with a total value of $492,800.00. Following the completion of the purchase, the director directly owned 45,516 shares of the company’s stock, valued at $2,243,028.48. The trade was a 28.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO William Bode sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $51.22, for a total value of $358,540.00. Following the sale, the chief operating officer owned 32,939 shares in the company, valued at approximately $1,687,135.58. This trade represents a 17.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. The company follows a “high-value, low-price” model designed to make gym memberships accessible to a broad range of consumers. Its clubs offer cardiovascular and strength-training equipment, group and individual exercise areas, and a welcoming environment known as the “Judgement Free Zone.”

Planet Fitness generates revenue primarily through membership dues, franchise royalties and fees, and sales of merchandise and other services.