Norges Bank Takes $108.80 Million Position in Planet Fitness, Inc. $PLNT

Norges Bank acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,003,001 shares of the company’s stock, valued at approximately $108,796,000.

A number of other hedge funds have also recently modified their holdings of the business. Steadfast Capital Management LP grew its position in shares of Planet Fitness by 4.6% during the 3rd quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock valued at $196,077,000 after acquiring an additional 83,215 shares during the period. Geode Capital Management LLC grew its position in shares of Planet Fitness by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company’s stock valued at $179,924,000 after acquiring an additional 26,575 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Planet Fitness by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after acquiring an additional 24,981 shares during the period. UBS Group AG grew its position in shares of Planet Fitness by 4.0% during the 3rd quarter. UBS Group AG now owns 824,395 shares of the company’s stock valued at $85,572,000 after acquiring an additional 31,605 shares during the period. Finally, Van Berkom & Associates Inc. grew its position in shares of Planet Fitness by 10.2% during the 4th quarter. Van Berkom & Associates Inc. now owns 818,233 shares of the company’s stock valued at $88,754,000 after acquiring an additional 75,614 shares during the period. Institutional investors own 95.53% of the company’s stock.

Insider Activity at Planet Fitness

In related news, Director Frances G. Rathke bought 5,000 shares of the stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of $46.21 per share, with a total value of $231,050.00. Following the completion of the acquisition, the director owned 5,000 shares of the company’s stock, valued at $231,050. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Planet Fitness Price Performance

PLNT opened at $51.26 on Friday. The firm has a market cap of $4.07 billion, a P/E ratio of 18.51, 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 company has a 50 day simple moving average of $62.65 and a two-hundred day simple moving average of $84.65.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $298.60 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Equities analysts anticipate that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of recent analyst reports. Robert W. Baird set a $80.00 price target on shares of Planet Fitness in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Planet Fitness from $98.00 to $61.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada dropped their price target on shares of Planet Fitness from $85.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. William Blair lowered shares of Planet Fitness from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Finally, UBS Group dropped their price target on shares of Planet Fitness from $120.00 to $79.00 and set a “buy” rating for the company in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.81.

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.