California Public Employees Retirement System Has $7.90 Million Stake in Planet Fitness, Inc. $PLNT

Key Points

• California Public Employees Retirement System cut its Planet Fitness stake by 25.8% in the first quarter, though it still held 106,219 shares valued at about $7.9 million.
• Institutional ownership remains high, with 95.53% of Planet Fitness shares held by hedge funds and other institutional investors.
• Analysts are mixed on the stock: the consensus rating is “Moderate Buy” with an average price target of $74.50, while recent reports included both upgrades and downgrades.

California Public Employees Retirement System reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,219 shares of the company's stock after selling 36,992 shares during the period. California Public Employees Retirement System owned 0.13% of Planet Fitness worth $7,901,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PLNT shares. Weiss Ratings lowered shares of Planet Fitness from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, June 18th. Bank of America restated a "neutral" rating and issued a $59.00 price target (down from $110.00) on shares of Planet Fitness in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $55.00 price objective on shares of Planet Fitness in a research note on Wednesday. Jefferies Financial Group set a $133.00 price objective on shares of Planet Fitness in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada lowered their target price 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. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.50.

Insider Activity at Planet Fitness

In related news, Director Frances G. Rathke acquired 5,000 shares of Planet Fitness stock in a transaction dated Friday, May 8th. The stock was bought at an average price of $46.21 per share, with a total value of $231,050.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at $231,050. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Key Stories Impacting Planet Fitness

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

• Positive Sentiment: Zacks said Planet Fitness has an impressive earnings surprise history and may be positioned to beat estimates again in its next quarterly report.
• Neutral Sentiment: Planet Fitness announced it will report second-quarter 2026 results on August 6, 2026, which could provide a clearer read on business momentum and investor sentiment.
• Negative Sentiment: Multiple law firms announced or reminded investors about a securities class action against Planet Fitness, with a September 14, 2026 lead-plaintiff deadline, increasing legal overhang and scrutiny on prior disclosures. Article Title

Planet Fitness Price Performance

NYSE PLNT opened at $53.42 on Friday. The business has a 50 day simple moving average of $52.14 and a 200 day simple moving average of $70.48. Planet Fitness, Inc. has a one year low of $37.03 and a one year high of $114.26. The stock has a market capitalization of $4.24 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.16 and a beta of 1.04.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.11. Planet Fitness had a negative return on equity of 81.29% and a net margin of 16.52%.The business had revenue of $337.24 million during the quarter, compared to the consensus estimate of $298.60 million. During the same period in the previous year, the company posted $0.59 earnings per share. The firm's revenue for the quarter was up 21.9% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Equities analysts expect that Planet Fitness, Inc. will post 3.17 earnings per share 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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