Hsbc Holdings PLC Increases Position in Planet Fitness, Inc. $PLNT

Key Points

• HSBC Holdings PLC increased its Planet Fitness stake by 73.1% in the first quarter, buying an additional 45,172 shares and bringing its total holdings to 106,972 shares worth about $8.0 million.
• Analyst sentiment remains mixed but constructive: the stock has a consensus rating of “Moderate Buy” with a consensus target price of $74.50, though some firms have recently cut price targets.
• Planet Fitness reported strong quarterly results, with revenue of $337.24 million and EPS of $0.74, both above expectations; however, the stock was down 2.0% and continues to face pressure from recent guidance cuts and a securities fraud class action.

Hsbc Holdings PLC raised its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 73.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,972 shares of the company's stock after purchasing an additional 45,172 shares during the period. Hsbc Holdings PLC owned approximately 0.13% of Planet Fitness worth $8,005,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at about $27,000. Clearstead Advisors LLC lifted its position in Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock worth $36,000 after buying an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after buying an additional 214 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Planet Fitness in the fourth quarter worth approximately $41,000. Finally, Danske Bank A S bought a new position in Planet Fitness during the third quarter valued at approximately $52,000. Institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

PLNT has been the topic of several research reports. TD Cowen reissued a "hold" rating on shares of Planet Fitness in a research note on Friday, May 29th. Roth Capital cut their price objective on shares of Planet Fitness from $109.00 to $64.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Canaccord Genuity Group increased their target price on shares of Planet Fitness from $80.00 to $82.00 and gave the company a "buy" rating in a report on Monday. Stifel Nicolaus decreased their target price on shares of Planet Fitness from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, April 24th. Finally, Guggenheim lowered their price target on shares of Planet Fitness from $126.00 to $95.00 and set a "buy" rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine 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 has a consensus rating of "Moderate Buy" and a consensus target price of $74.50.

Planet Fitness Stock Down 2.0%

Shares of NYSE PLNT opened at $53.99 on Thursday. The firm's fifty day moving average is $52.07 and its 200 day moving average is $70.99. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.47. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.20 and a beta of 1.04.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results 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. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The business had revenue of $337.24 million during the quarter, compared to analysts' expectations of $298.60 million. During the same quarter in the prior year, the company posted $0.59 EPS. The firm'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. Equities research analysts anticipate that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Planet Fitness News Summary

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

• Positive Sentiment: Some market commentary argues Planet Fitness may be undervalued on cash flow and earnings, which could support a longer-term recovery if fundamentals remain intact.
• Neutral Sentiment: Several law firms have issued deadline reminders and investor alerts regarding the class action, increasing attention on the case but not adding new operational details.
• Negative Sentiment: A securities fraud class action has been filed against Planet Fitness over alleged misstatements about marketing effectiveness and membership growth, creating a legal overhang for the stock. Article Title
• Negative Sentiment: Investors are still reacting to the earlier guidance cut and the alleged failure of the company’s marketing strategy, which is being cited as the trigger for the stock’s recent weakness. Article Title

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke bought 5,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were bought 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 of the company's stock, valued at $231,050. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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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