Havemeyer Place LP Invests $1.13 Million in Planet Fitness, Inc. $PLNT

Havemeyer Place LP bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 10,392 shares of the company’s stock, valued at approximately $1,127,000.

Several other hedge funds have also recently added to or reduced their stakes in PLNT. Citigroup Inc. grew its holdings in Planet Fitness by 101.0% in the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock valued at $3,058,000 after buying an additional 14,805 shares in the last quarter. Pelham Capital Ltd. purchased a new stake in Planet Fitness in the 3rd quarter valued at $12,841,000. Impax Asset Management Group plc grew its holdings in Planet Fitness by 22.0% in the 3rd quarter. Impax Asset Management Group plc now owns 194,271 shares of the company’s stock valued at $20,165,000 after buying an additional 35,000 shares in the last quarter. Burney Co. purchased a new stake in Planet Fitness in the 4th quarter valued at $2,221,000. Finally, Fred Alger Management LLC grew its holdings in Planet Fitness by 5.4% in the 3rd quarter. Fred Alger Management LLC now owns 503,101 shares of the company’s stock valued at $52,222,000 after buying an additional 25,719 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Planet Fitness

In related news, Director Frances G. Rathke purchased 5,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was acquired at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $231,050. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLNT has been the subject of several analyst reports. Robert W. Baird set a $80.00 target price on Planet Fitness in a report on Friday, May 8th. Morgan Stanley cut Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 target price for the company. in a report on Friday, May 8th. KeyCorp dropped their target price on Planet Fitness from $100.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, May 8th. UBS Group dropped their target price on Planet Fitness from $120.00 to $79.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Wells Fargo & Company dropped their target price on Planet Fitness from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $77.81.

Planet Fitness Trading Down 0.3%

Shares of PLNT opened at $50.54 on Monday. Planet Fitness, Inc. has a 12-month low of $37.03 and a 12-month high of $114.47. The firm has a market cap of $4.02 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 1.10 and a beta of 1.04. The company’s 50-day moving average price is $62.15 and its 200 day moving average price is $84.28.

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 during the quarter, compared to analysts’ expectations of $298.60 million. During the same period last year, the business earned $0.59 earnings per share. The business’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. Equities research analysts forecast that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

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.