Bessemer Group Inc. Has $22.55 Million Stock Position in Planet Fitness, Inc. $PLNT

Key Points

• Bessemer Group Inc. cut its Planet Fitness stake by 21.5% in the first quarter, but still held 303,121 shares worth about $22.55 million at the time of filing.
• Planet Fitness reported better-than-expected Q1 earnings of $0.74 per share on revenue of $337.24 million, topping Wall Street estimates and rising 21.9% from a year earlier.
• Despite solid results, the stock faces mixed sentiment: analysts now have a Moderate Buy consensus with a $74.71 target, while class action litigation and securities-fraud investigations could add uncertainty and legal costs.

Bessemer Group Inc. lessened its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 21.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,121 shares of the company's stock after selling 82,913 shares during the period. Bessemer Group Inc. owned about 0.38% of Planet Fitness worth $22,546,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PLNT. Entropy Technologies LP bought a new stake in shares of Planet Fitness during the 4th quarter worth approximately $2,744,000. Burney Co. bought a new position in shares of Planet Fitness in the fourth quarter valued at $2,221,000. Aberdeen Group plc bought a new position in shares of Planet Fitness in the fourth quarter valued at $10,688,000. Nippon Life Global Investors Americas Inc. increased its holdings in Planet Fitness by 510.2% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 32,400 shares of the company's stock worth $3,514,000 after buying an additional 27,090 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in Planet Fitness during the fourth quarter worth $2,611,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Shares of PLNT opened at $52.38 on Friday. The firm has a market cap of $4.16 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.14 and a beta of 1.04. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.47. The firm's 50-day simple moving average is $51.75 and its 200 day simple moving average is $72.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share (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 during the quarter, compared to the consensus estimate of $298.60 million. During the same period last year, the business posted $0.59 earnings per share. The business's revenue for the quarter 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. As a group, equities analysts forecast that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on PLNT. Royal Bank Of Canada cut 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 note on Friday, May 8th. Canaccord Genuity Group set a $80.00 price objective on shares of Planet Fitness in a research note on Friday, May 8th. TD Cowen restated a "hold" rating on shares of Planet Fitness in a research note on Friday, May 29th. Wells Fargo & Company cut their target price on shares of Planet Fitness from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Finally, Morgan Stanley cut Planet Fitness from an "overweight" rating to an "equal weight" rating and set a $47.00 price target for the company. in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $74.71.

More Planet Fitness News

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

• Neutral Sentiment: Multiple law firms announced or reminded investors about a securities class action against Planet Fitness, with lead-plaintiff deadlines generally set for September 14, 2026. These notices keep the litigation overhang in the spotlight. Article: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Planet Fitness, Inc. and Encourages Investors to Contact the Firm
• Neutral Sentiment: Other firms, including Rosen, Pomerantz, Kirby McInerney, and Robbins, also issued investor alerts about the same class action, suggesting the legal story is broad and still developing. Article: ROSEN, LEADING INVESTOR COUNSEL, Encourages Planet Fitness, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - PLNT
• Neutral Sentiment: Planet Fitness saw unusually heavy call-option activity, with traders buying far more calls than normal, indicating some investors may be positioning for a rebound despite the legal pressure.
• Negative Sentiment: The class action and related securities-fraud investigations could increase legal costs and raise uncertainty around Planet Fitness’ outlook, which may weigh on the stock until there is more clarity on the allegations and potential exposure.

Insider Buying and Selling at Planet Fitness

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

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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