Edgestream Partners L.P. Invests $4.39 Million in Planet Fitness, Inc. $PLNT

Edgestream Partners L.P. purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 59,084 shares of the company’s stock, valued at approximately $4,395,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLNT. Goldman Sachs Group Inc. increased its stake in Planet Fitness by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after buying an additional 24,981 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Planet Fitness during the first quarter valued at approximately $1,891,000. EverSource Wealth Advisors LLC lifted its position in shares of Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Planet Fitness by 25.8% in the second quarter. First Trust Advisors LP now owns 142,689 shares of the company’s stock valued at $15,560,000 after acquiring an additional 29,305 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Planet Fitness in the second quarter worth approximately $267,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Frances G. Rathke acquired 5,000 shares of the stock in a transaction on Friday, May 8th. The shares were bought 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 of the company’s stock, valued at approximately $231,050. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $55.84 on Friday. The stock has a market cap of $4.44 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.22 and a beta of 1.04. The stock’s 50 day simple moving average is $52.54 and its 200-day simple moving average is $68.74. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.26.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Planet Fitness had a negative return on equity of 81.29% and a net margin of 16.52%.The business had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. During the same period in the prior year, the business earned $0.59 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, research analysts expect that Planet Fitness, Inc. will post 3.17 EPS for the current fiscal year.

Key Planet Fitness News

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Planet Fitness’s latest reported quarter provided a fundamental counterpoint: revenue increased 21.9% year over year to $337.24 million, while adjusted earnings of $0.74 per share exceeded analysts’ $0.63 estimate. This may help limit the impact of the litigation headlines if operating momentum continues.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLNT shares. Weiss Ratings cut Planet Fitness from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 18th. TD Cowen restated a “hold” rating on shares of Planet Fitness in a report on Friday, May 29th. Jefferies Financial Group set a $133.00 target price on shares of Planet Fitness in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada reduced their target price on shares of Planet Fitness from $85.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $74.50.

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.