ABN AMRO Bank N.V. Increases Stock Position in Planet Fitness, Inc. $PLNT

Key Points

• ABN AMRO Bank N.V. boosted its Planet Fitness stake by 36.9% in the first quarter, buying 44,404 additional shares and bringing its total holding to 164,797 shares worth about $12.4 million.
• Planet Fitness reported strong quarterly results, with EPS of $0.74 topping estimates and revenue of $337.24 million beating expectations; revenue also rose 21.9% year over year.
• Analysts remain mixed but generally constructive, with the stock carrying a Moderate Buy consensus and an average target price of $77.81, though several firms recently cut price targets.

ABN AMRO Bank N.V. grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 36.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,797 shares of the company's stock after buying an additional 44,404 shares during the period. ABN AMRO Bank N.V. owned 0.21% of Planet Fitness worth $12,395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MML Investors Services LLC grew its holdings in Planet Fitness by 1.3% in the fourth quarter. MML Investors Services LLC now owns 9,811 shares of the company's stock worth $1,064,000 after purchasing an additional 122 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Planet Fitness by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company's stock worth $2,764,000 after purchasing an additional 123 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Planet Fitness by 2.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,963 shares of the company's stock worth $619,000 after buying an additional 163 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Planet Fitness by 4.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,782 shares of the company's stock valued at $410,000 after buying an additional 168 shares in the last quarter. Finally, Clearstead Advisors LLC increased its position in Planet Fitness by 135.9% during the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock valued at $36,000 after buying an additional 193 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Stock Up 1.6%

Shares of PLNT stock opened at $52.76 on Friday. The company has a 50 day moving average price of $55.70 and a 200-day moving average price of $78.42. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.47. The firm has a market capitalization of $4.19 billion, a PE ratio of 19.05, a P/E/G ratio of 1.15 and a beta of 1.04.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $337.24 million during the quarter, compared to analysts' expectations of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The firm's quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Analysts anticipate that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Insider Activity

In other news, Director Frances G. Rathke acquired 5,000 shares of Planet Fitness stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $46.21 per share, with a total value of $231,050.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $231,050. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Cowen reissued a "hold" rating on shares of Planet Fitness in a research report on Friday, May 29th. Robert W. Baird set a $80.00 target price on shares of Planet Fitness in a research note on Friday, May 8th. UBS Group cut their price target on shares of Planet Fitness from $120.00 to $79.00 and set a "buy" rating on the stock in a report on Friday, May 15th. Roth Mkm reduced their price target on shares of Planet Fitness from $109.00 to $64.00 and set a "buy" rating for the company in a research report on Wednesday, May 20th. Finally, Bank of America restated a "neutral" rating and issued a $59.00 price objective (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.

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