SG Americas Securities LLC Increases Holdings in Planet Fitness, Inc. $PLNT

SG Americas Securities LLC increased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 251.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 94,896 shares of the company’s stock after buying an additional 67,907 shares during the quarter. SG Americas Securities LLC’s holdings in Planet Fitness were worth $7,058,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Entropy Technologies LP bought a new position in shares of Planet Fitness during the 4th quarter valued at approximately $2,744,000. Citigroup Inc. raised its holdings in shares of Planet Fitness by 101.0% in the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock worth $3,058,000 after purchasing an additional 14,805 shares during the period. Fred Alger Management LLC lifted its stake in Planet Fitness by 5.4% in the third quarter. Fred Alger Management LLC now owns 503,101 shares of the company’s stock valued at $52,222,000 after purchasing an additional 25,719 shares during the last quarter. Burney Co. purchased a new position in Planet Fitness in the fourth quarter valued at approximately $2,221,000. Finally, Aberdeen Group plc purchased a new stake in Planet Fitness in the fourth quarter worth $10,688,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

PLNT has been the topic of several research reports. KGI Securities lowered Planet Fitness to a “neutral” rating and set a $50.50 target price on the stock. in a research note on Friday, May 8th. Royal Bank Of Canada cut their price target on Planet Fitness from $85.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Robert W. Baird set a $80.00 price objective on Planet Fitness in a research note on Friday, May 8th. TD Cowen reaffirmed a “hold” rating on shares of Planet Fitness in a report on Friday, May 29th. Finally, Bank of America reiterated a “neutral” rating and set a $59.00 target price (down from $110.00) on shares of Planet Fitness in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.81.

Planet Fitness Trading Up 1.6%

Planet Fitness stock opened at $52.76 on Friday. The firm’s 50 day simple moving average is $55.70 and its 200 day simple moving average is $78.42. The firm has a market capitalization of $4.19 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.47.

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

Insider Activity

In other Planet Fitness news, Director Frances G. Rathke acquired 5,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $231,050. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Planet Fitness 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.