250,074 Shares in Planet Fitness, Inc. $PLNT Bought by Leeward Investments LLC MA

Key Points

• Leeward Investments LLC MA acquired 250,074 Planet Fitness shares worth approximately $10.6 million, giving it a 0.33% stake. Institutional investors collectively own 95.53% of the company.
• Analysts maintain a generally positive outlook, with Planet Fitness carrying a “Moderate Buy” consensus rating and an average price target of $69.34. Recent targets range from $51 to $62, while Robert W. Baird lowered its target to $60.
• Planet Fitness reported quarterly EPS of $0.88, exceeding estimates by $0.03, while revenue rose 7.1% year over year to $365.22 million. Shares opened at $52.49, with the stock valued at roughly $3.96 billion.

Leeward Investments LLC MA acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 250,074 shares of the company's stock, valued at approximately $10,558,000. Leeward Investments LLC MA owned about 0.33% of Planet Fitness as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in Planet Fitness by 15.5% in the second quarter. Allworth Financial LP now owns 1,699 shares of the company's stock worth $89,000 after purchasing an additional 228 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Planet Fitness by 3.9% during the second quarter. Fulton Bank N.A. now owns 6,956 shares of the company's stock valued at $363,000 after buying an additional 262 shares during the last quarter. KBC Group NV grew its stake in shares of Planet Fitness by 15.7% during the first quarter. KBC Group NV now owns 2,560 shares of the company's stock valued at $190,000 after buying an additional 348 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Planet Fitness by 285.9% during the second quarter. Versant Capital Management Inc now owns 494 shares of the company's stock valued at $26,000 after buying an additional 366 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Planet Fitness by 2.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,994 shares of the company's stock worth $1,264,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group reissued a "buy" rating on shares of Planet Fitness in a research note on Friday, October 9th. JPMorgan Chase & Co. increased their target price on Planet Fitness from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Morgan Stanley raised their price target on Planet Fitness from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 18th. KeyCorp reaffirmed an "overweight" rating on shares of Planet Fitness in a research note on Tuesday, October 13th. Finally, Robert W. Baird decreased their price target on Planet Fitness from $72.00 to $60.00 and set an "outperform" rating on the stock in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $69.34.

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Stephen Spinelli, Jr. purchased 10,000 shares of the stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $49.28 per share, with a total value of $492,800.00. Following the transaction, the director directly owned 45,516 shares of the company's stock, valued at approximately $2,243,028.48. This trade represents a 28.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher Tanco purchased 2,328 shares of the stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of $51.23 per share, with a total value of $119,263.44. Following the transaction, the director directly owned 2,328 shares in the company, valued at $119,263.44. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.90% of the stock is currently owned by company insiders.

Planet Fitness Stock Down 0.1%

Shares of PLNT opened at $52.49 on Monday. The stock has a market capitalization of $3.96 billion, a P/E ratio of 17.79, a PEG ratio of 1.13 and a beta of 1.05. The firm has a fifty day simple moving average of $48.72 and a two-hundred day simple moving average of $53.33. Planet Fitness, Inc. has a twelve month low of $37.03 and a twelve month high of $114.26.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.03. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The business had revenue of $365.22 million for the quarter, compared to analyst estimates of $356.21 million. During the same quarter last year, the firm earned $0.86 EPS. The company's revenue was up 7.1% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Sell-side analysts expect that Planet Fitness, Inc. will post 3.21 EPS for the current fiscal year.

Planet Fitness Company Profile

Planet Fitness, Inc NYSE: PLNT is a franchised fitness-center company that operates under the Planet Fitness brand. The company follows a “high-value, low-price” model designed to make gym memberships accessible to a broad range of consumers. Its clubs offer cardiovascular and strength-training equipment, group and individual exercise areas, and a welcoming environment known as the “Judgement Free Zone.”

Planet Fitness generates revenue primarily through membership dues, franchise royalties and fees, and sales of merchandise and other services.

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