Peregrine Capital Management LLC Has $25.76 Million Stock Holdings in Planet Fitness, Inc. $PLNT

Peregrine Capital Management LLC trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 6.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 346,307 shares of the company’s stock after selling 22,798 shares during the period. Planet Fitness comprises approximately 1.0% of Peregrine Capital Management LLC’s holdings, making the stock its 19th largest holding. Peregrine Capital Management LLC’s holdings in Planet Fitness were worth $25,758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Planet Fitness during the fourth quarter worth $108,796,000. Junto Capital Management LP bought a new stake in Planet Fitness during the 3rd quarter worth about $73,603,000. Freestone Grove Partners LP lifted its position in Planet Fitness by 149.2% during the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock valued at $54,768,000 after purchasing an additional 315,941 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Planet Fitness during the 3rd quarter valued at about $28,515,000. Finally, SRS Investment Management LLC boosted its stake in shares of Planet Fitness by 4.5% in the 4th quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock valued at $529,071,000 after purchasing an additional 212,145 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Planet Fitness

In other news, Director Frances G. Rathke bought 5,000 shares of the stock in a transaction on Friday, May 8th. The stock was purchased 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 trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. TD Cowen reiterated a “hold” rating on shares of Planet Fitness in a research report on Friday, May 29th. KGI Securities cut shares of Planet Fitness to a “neutral” rating and set a $50.50 price objective on the stock. in a research note on Friday, May 8th. Wells Fargo & Company lowered their target price on shares of Planet Fitness from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Canaccord Genuity Group set a $80.00 target price on shares of Planet Fitness in a research report on Friday, May 8th. Finally, Roth Mkm cut their price target on Planet Fitness from $109.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.81.

Planet Fitness Trading Up 1.3%

Planet Fitness stock opened at $52.27 on Wednesday. The firm has a market capitalization of $4.15 billion, a P/E ratio of 18.87, a PEG ratio of 1.12 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. The business has a 50-day moving average of $54.89 and a 200-day moving average of $77.42.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $298.60 million. During the same period last year, the company posted $0.59 EPS. 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. Research analysts anticipate that Planet Fitness, Inc. will post 3.18 EPS for the current fiscal year.

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.