Planet Fitness, Inc. $PLNT Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1,886.5% during the 4th quarter, Holdings Channel reports. The fund owned 61,800 shares of the company’s stock after buying 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 quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Planet Fitness in the fourth quarter valued at about $27,000. Clearstead Advisors LLC raised its stake in Planet Fitness by 135.9% during the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Planet Fitness in the 4th quarter valued at about $41,000. Finally, Danske Bank A S purchased a new stake in shares of Planet Fitness in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Activity at Planet Fitness

In other news, Director Frances G. Rathke purchased 5,000 shares of the stock in a transaction dated 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. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $52.76 on Friday. The firm’s 50 day moving average price is $55.70 and its 200-day moving average price is $78.42. Planet Fitness, Inc. has a one year low of $37.03 and a one year high of $114.47. The firm has a market cap of $4.19 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.13 and a beta of 1.04.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $298.60 million. During the same quarter last year, the firm earned $0.59 EPS. The firm’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. As a group, research analysts predict that Planet Fitness, Inc. will post 3.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of recent analyst reports. Guggenheim cut their price target on shares of Planet Fitness from $126.00 to $95.00 and set a “buy” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada decreased their price objective on Planet Fitness from $85.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Robert W. Baird set a $80.00 price objective on Planet Fitness in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft cut their target price on Planet Fitness from $98.00 to $61.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Finally, Zacks Research lowered Planet Fitness from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.81.

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.