Dorsal Capital Management LP Trims Stake in Planet Fitness, Inc. $PLNT

Dorsal Capital Management LP decreased its position in Planet Fitness, Inc. (NYSE:PLNT) by 6.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,325,000 shares of the company’s stock after selling 150,000 shares during the quarter. Planet Fitness accounts for 6.4% of Dorsal Capital Management LP’s portfolio, making the stock its 4th largest position. Dorsal Capital Management LP owned about 2.79% of Planet Fitness worth $241,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 214 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Planet Fitness by 51.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after acquiring an additional 138 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Planet Fitness by 6,950.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $44,000 after purchasing an additional 417 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Planet Fitness in the 3rd quarter valued at $44,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Planet Fitness by 131.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 445 shares of the company’s stock valued at $47,000 after purchasing an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 1.5%

Shares of PLNT stock opened at $73.63 on Friday. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.28 and a beta of 1.25. The stock has a fifty day moving average of $90.91 and a 200 day moving average of $98.89. Planet Fitness, Inc. has a 52 week low of $73.29 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The business had revenue of $376.26 million for the quarter, compared to the consensus estimate of $366.48 million. During the same period in the previous year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Key Stories Impacting Planet Fitness

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

• Positive Sentiment: Jefferies reiterated a Buy and kept an aggressive $175 price target, calling the interim CFO appointment a stabilizing move; that bullish stance signals large upside versus current levels. Jefferies Maintains a Buy Rating on Planet Fitness, Inc. (PLNT) with a $175 Price Target
• Positive Sentiment: KeyBanc (KeyCorp) initiated coverage with an Overweight/“overweight”/“strong-buy” stance and a $100 price target (roughly mid/high double-digit upside), adding another institutional buy-side endorsement. KeyBanc initiates coverage of Planet Fitness (PLNT) with overweight recommendation
• Positive Sentiment: Wells Fargo also initiated coverage with an Overweight recommendation, adding to the recent wave of analyst support and potential demand from institutional buyers. Wells Fargo & Company Initiates Coverage on Planet Fitness (NYSE:PLNT)
• Positive Sentiment: Multiple analyst roundups (TipRanks/Globe and Mail coverage) highlight bullish sentiment on consumer-cyclical names including PLNT, reinforcing the analyst momentum behind the stock. Analysts Offer Insights on Consumer Cyclical Companies: Planet Fitness (PLNT)
• Neutral Sentiment: The company’s interim CFO appointment has drawn analyst attention to Planet Fitness’s valuation and balance sheet — a watchpoint that could slow upside until clarity on debt strategy and financial cadence emerges. Planet Fitness Interim CFO Shift Puts Valuation And Debt In Focus
• Negative Sentiment: Pomerantz LLP launched an investor investigation into Planet Fitness, which introduces litigation risk and may pressure the stock until details and potential exposures are clarified. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Planet Fitness, Inc. – PLNT

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Macquarie Infrastructure decreased their target price on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Zacks Research cut Planet Fitness from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Canaccord Genuity Group lifted their price objective on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Guggenheim raised Planet Fitness to a “strong-buy” rating in a research note on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.93.

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.