Hsbc Holdings PLC Boosts Stock Holdings in Planet Fitness, Inc. $PLNT

Hsbc Holdings PLC raised its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1,886.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 61,800 shares of the company’s stock after acquiring an additional 58,689 shares during the quarter. Hsbc Holdings PLC’s holdings in Planet Fitness were worth $6,726,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

PLNT has been the topic of a number of recent research reports. KeyCorp lowered their price target on shares of Planet Fitness from $100.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada cut their price objective on shares of Planet Fitness from $85.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Stifel Nicolaus decreased their target price on shares of Planet Fitness from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Bank of America restated a “neutral” rating and set a $59.00 target price (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. Finally, Jefferies Financial Group set a $133.00 price target on Planet Fitness in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.81.

Planet Fitness Stock Down 0.9%

NYSE PLNT opened at $51.81 on Thursday. The business’s fifty day simple moving average is $52.77 and its 200-day simple moving average is $75.03. The firm has a market cap of $4.12 billion, a PE ratio of 18.70, a P/E/G ratio of 1.14 and a beta of 1.04. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data 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 net margin of 16.52% and a negative return on equity of 81.29%. The firm had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. Planet Fitness’s quarterly revenue 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 expect that Planet Fitness, Inc. will post 3.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Frances G. Rathke bought 5,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $231,050. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.90% of the stock is owned by insiders.

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.