Bank of America Corp DE Boosts Holdings in Planet Fitness, Inc. $PLNT

Key Points

• Bank of America increased its Planet Fitness stake by 7.2% in the first quarter, bringing its holdings to 779,251 shares worth approximately $58 million. Institutional investors collectively own 95.53% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $70.03, although several firms recently lowered their targets. PLNT shares opened at $47.83, well below their 52-week high of $114.26.
• Planet Fitness exceeded quarterly expectations, reporting $0.88 in adjusted earnings per share and $365.22 million in revenue, up 7.1% year over year. Director Stephen Spinelli Jr. also purchased 10,000 shares for about $492,800, while the company faces securities-litigation and membership-growth concerns.

Bank of America Corp DE boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 779,251 shares of the company's stock after purchasing an additional 52,289 shares during the period. Bank of America Corp DE owned approximately 0.98% of Planet Fitness worth $57,961,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLNT. MML Investors Services LLC boosted its position in Planet Fitness by 1.3% in the 4th 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 in the last quarter. Public Employees Retirement System of Ohio lifted its stake 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 valued at $2,764,000 after purchasing an additional 123 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Planet Fitness by 4.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,782 shares of the company's stock valued at $410,000 after purchasing an additional 168 shares during the period. Clearstead Advisors LLC boosted its holdings 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 buying an additional 193 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. William Blair downgraded Planet Fitness from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 7th. TD Cowen restated a "hold" rating on shares of Planet Fitness in a research report on Friday, May 29th. Stifel Nicolaus reduced their target price on Planet Fitness from $105.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, April 24th. Guggenheim decreased their target price on Planet Fitness from $126.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Finally, Roth Capital decreased their target price on Planet Fitness from $109.00 to $64.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and a consensus target price of $70.03.

Planet Fitness Stock Performance

NYSE PLNT opened at $47.83 on Wednesday. The business has a fifty day moving average price of $52.50 and a 200 day moving average price of $66.25. Planet Fitness, Inc. has a one year low of $37.03 and a one year high of $114.26. The company has a market cap of $3.80 billion, a P/E ratio of 16.21, a P/E/G ratio of 1.06 and a beta of 1.03.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.03. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The company 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 posted $0.86 EPS. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 3.19 EPS for the current fiscal year.

Insider Activity at Planet Fitness

In other Planet Fitness news, Director Stephen Spinelli, Jr. purchased 10,000 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $49.28 per share, with a total value of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares in the company, valued at approximately $2,243,028.48. This represents a 28.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is owned by company insiders.

Trending Headlines about Planet Fitness

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Director Stephen Spinelli Jr. purchased 10,000 PLNT shares at an average price of $49.28, investing approximately $492,800 and increasing his position by 28.16%. The insider purchase may signal confidence that the stock’s recent weakness has been excessive. SEC insider transaction filing
• Neutral Sentiment: Several law firms reminded investors who bought Planet Fitness shares between November 6, 2025, and May 6, 2026, of the September 14 deadline to seek lead-plaintiff status in a pending securities class action. These notices are primarily investor solicitations and do not establish wrongdoing. Rosen class-action notice
• Negative Sentiment: The litigation alleges that Planet Fitness and certain executives violated securities laws by failing to disclose problems with a marketing campaign that allegedly alienated casual gym-goers and contributed to disappointing membership growth during the key first-quarter sign-up period. The claims follow an earlier stock decline of more than 31%, adding legal and reputational risk. Planet Fitness securities lawsuit announcement

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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