Burney Co. Makes New $2.22 Million Investment in Planet Fitness, Inc. $PLNT

Key Points

• Burney Co. established a new position in Planet Fitness in Q4, buying 20,478 shares worth about $2.22 million.
• Institutional investors own 95.53% of PLNT, and several large funds recently added or expanded stakes (e.g., Junto Capital’s ~$73.6M new position; Ninety One UK increased to 3.46M shares worth ~$359.3M).
• Planet Fitness beat quarterly estimates with $0.83 EPS and revenue up 10.5%, and analysts hold a consensus rating of "Moderate Buy" with an average price target of $116.08 while the stock trades near $70.49 (market cap ~$5.64B).

Burney Co. bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,478 shares of the company's stock, valued at approximately $2,221,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLNT. Junto Capital Management LP acquired a new position in Planet Fitness during the third quarter worth about $73,603,000. Ninety One UK Ltd raised its position in Planet Fitness by 20.0% during the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company's stock worth $359,308,000 after acquiring an additional 577,637 shares during the last quarter. Freestone Grove Partners LP grew its holdings in shares of Planet Fitness by 149.2% during the third quarter. Freestone Grove Partners LP now owns 527,634 shares of the company's stock worth $54,768,000 after buying an additional 315,941 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Planet Fitness during the third quarter worth about $28,515,000. Finally, Mane Global Capital Management LP purchased a new stake in shares of Planet Fitness during the third quarter worth about $20,760,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Piper Sandler downgraded shares of Planet Fitness from an "overweight" rating to a "neutral" rating in a report on Friday, February 27th. UBS Group reiterated a "buy" rating on shares of Planet Fitness in a report on Wednesday, March 18th. Jefferies Financial Group reiterated a "buy" rating and set a $175.00 price target on shares of Planet Fitness in a report on Tuesday, February 24th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Planet Fitness in a report on Monday, December 29th. Finally, Canaccord Genuity Group lowered their price target on shares of Planet Fitness from $128.00 to $122.00 and set a "buy" rating for the company in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $116.08.

Planet Fitness Stock Performance

Planet Fitness stock opened at $70.49 on Monday. Planet Fitness, Inc. has a 1 year low of $70.32 and a 1 year high of $114.47. The firm has a 50 day moving average price of $81.15 and a 200 day moving average price of $94.86. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.22 and a beta of 1.31.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The firm had revenue of $376.26 million during the quarter, compared to the consensus estimate of $366.48 million. During the same period in the previous year, the firm earned $0.70 earnings per share. Planet Fitness's revenue was up 10.5% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Sell-side analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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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