Lazard Asset Management LLC Acquires New Position in Planet Fitness, Inc. $PLNT

Key Points

• Lazard Asset Management acquired 78,468 shares of Planet Fitness worth approximately $5.84 million in the first quarter, representing about 0.10% of the company. Institutional investors collectively own 95.53% of PLNT.
• Planet Fitness is scheduled to report second-quarter 2026 results on August 6, with membership growth, pricing and guidance in focus. Analysts expect a year-over-year earnings decline, while the company also faces risks from a securities class-action lawsuit alleging misleading statements about growth and strategy.
• Wall Street maintains a consensus “Moderate Buy” rating with an average price target of $74.50, compared with the stock’s recent price of $56.06. Recent targets have been reduced, although UBS, Roth Capital and Guggenheim continue to rate the shares “Buy.”

Lazard Asset Management LLC bought a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 78,468 shares of the company's stock, valued at approximately $5,836,000. Lazard Asset Management LLC owned approximately 0.10% of Planet Fitness at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MML Investors Services LLC raised its position in Planet Fitness by 1.3% during the 4th quarter. MML Investors Services LLC now owns 9,811 shares of the company's stock valued at $1,064,000 after purchasing an additional 122 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Planet Fitness by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company's stock worth $2,764,000 after buying an additional 123 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Planet Fitness by 4.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,782 shares of the company's stock valued at $410,000 after buying an additional 168 shares during the period. Clearstead Advisors LLC raised its holdings in shares of Planet Fitness by 135.9% in the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock valued at $36,000 after acquiring an additional 193 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after acquiring an additional 214 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness News Roundup

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

• Neutral Sentiment: Planet Fitness will release second-quarter 2026 results before the market opens on August 6. The report is likely to be the next major catalyst, with investors watching membership growth, marketing effectiveness, pricing initiatives and the company’s financial outlook. Planet Fitness to Report Second-Quarter Results
• Negative Sentiment: Zacks said analysts expect Planet Fitness to report a year-over-year earnings decline and that the company lacks the indicators typically associated with a likely earnings beat. This raises the risk of a disappointing report or cautious guidance. Zacks Earnings Preview
• Negative Sentiment: Several firms, including Faruqi & Faruqi, SueWallSt, Pomerantz, Robbins, Rosen and others, reminded investors of a securities class action filed against Planet Fitness. The lawsuit alleges that the company made materially misleading statements about membership growth, marketing strategy, Black Card pricing and its long-term outlook before PLNT shares fell 31.19% in one day. These are allegations, and no finding of wrongdoing was reported; however, the litigation creates legal, reputational and potential financial risks. Investors seeking to lead the case face a September 14, 2026 deadline. Faruqi Shareholder Action Reminder SueWallSt Class Action Notice

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. TD Cowen reaffirmed a "hold" rating on shares of Planet Fitness in a research report on Friday, May 29th. UBS Group restated a "buy" rating on shares of Planet Fitness in a report on Monday, July 20th. Roth Capital cut their price target on Planet Fitness from $109.00 to $64.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Robert W. Baird set a $80.00 price objective on Planet Fitness in a research note on Friday, May 8th. Finally, Guggenheim cut their target price on Planet Fitness from $126.00 to $95.00 and set a "buy" rating on the stock 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.50.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $56.06 on Friday. The business's 50-day moving average is $52.46 and its 200 day moving average is $68.83. Planet Fitness, Inc. has a 1 year low of $37.03 and a 1 year high of $114.26. The firm has a market capitalization of $4.45 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.22 and a beta of 1.04.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) 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 firm had revenue of $337.24 million for the quarter, compared to the consensus estimate of $298.60 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company'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. On average, analysts expect that Planet Fitness, Inc. will post 3.17 EPS for the current year.

Insiders Place Their Bets

In other Planet Fitness news, Director Frances G. Rathke purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $231,050. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company's stock.

About Planet Fitness

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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