Goldman Sachs Group Inc. Has $126.26 Million Stock Position in Planet Fitness, Inc. $PLNT

Goldman Sachs Group Inc. lowered its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,163,964 shares of the company’s stock after selling 507,820 shares during the quarter. Goldman Sachs Group Inc. owned 1.40% of Planet Fitness worth $126,255,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PLNT. V Square Quantitative Management LLC purchased a new stake in shares of Planet Fitness in the fourth quarter valued at $27,000. Clearstead Advisors LLC boosted its position in shares of Planet Fitness by 135.9% in the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock worth $36,000 after buying an additional 193 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after buying an additional 214 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Planet Fitness by 51.9% during the third quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock valued at $42,000 after buying an additional 138 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in Planet Fitness during the third quarter valued at $44,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Up 0.2%

Shares of Planet Fitness stock opened at $50.77 on Tuesday. Planet Fitness, Inc. has a 12-month low of $37.03 and a 12-month high of $114.47. The stock has a 50 day moving average price of $61.66 and a two-hundred day moving average price of $83.91. The stock has a market capitalization of $4.03 billion, a P/E ratio of 18.33, a PEG ratio of 1.10 and a beta of 1.04.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The business had revenue of $337.24 million during the quarter, compared to analysts’ expectations of $298.60 million. During the same period in the previous year, the company earned $0.59 earnings per share. Planet Fitness’s revenue for the quarter was up 21.9% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Sell-side analysts anticipate that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frances G. Rathke acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were bought at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $231,050. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLNT. Piper Sandler lowered shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Planet Fitness from $98.00 to $61.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Robert W. Baird set a $80.00 target price on shares of Planet Fitness in a research report on Friday, May 8th. Roth Mkm decreased their target price on shares of Planet Fitness from $109.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Finally, Guggenheim lowered their price target 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. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.81.

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.