Montanova Capital LLC Buys New Shares in Planet Fitness, Inc. $PLNT

Key Points

• Montanova Capital acquired 219,910 Planet Fitness shares worth approximately $11.5 million, representing a 0.29% stake. Institutional investors and hedge funds collectively own 95.53% of the company.
• Analyst sentiment remains favorable overall, with a consensus “Moderate Buy” rating and a $70.24 price target, despite some downgrades and a sell rating.
• Planet Fitness exceeded quarterly expectations, reporting $0.88 EPS and $365.22 million in revenue, up 7.1% year over year. However, the company faces ongoing securities litigation and reputational risk tied to alleged disclosure and membership-growth issues.

Montanova Capital LLC purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 219,910 shares of the company's stock, valued at approximately $11,473,000. Montanova Capital LLC owned 0.29% of Planet Fitness at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLNT. Norges Bank acquired a new stake in shares of Planet Fitness in the 4th quarter valued at $108,796,000. Assenagon Asset Management S.A. acquired a new stake in Planet Fitness during the 2nd quarter worth $44,399,000. Freestone Grove Partners LP lifted its holdings in shares of Planet Fitness by 149.2% during the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company's stock valued at $54,768,000 after purchasing an additional 315,941 shares in the last quarter. SRS Investment Management LLC lifted its stake in Planet Fitness by 4.5% in the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company's stock valued at $529,071,000 after buying an additional 212,145 shares in the last quarter. Finally, Mane Global Capital Management LP acquired a new position in Planet Fitness in the 3rd quarter worth $20,760,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLNT has been the subject of several research reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Planet Fitness in a research note on Monday, July 20th. Weiss Ratings cut Planet Fitness from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, June 18th. Zacks Research raised shares of Planet Fitness from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Cantor Fitzgerald set a $62.00 target price on shares of Planet Fitness in a report on Thursday, July 9th. Finally, William Blair lowered shares of Planet Fitness from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 7th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.24.

Trending Headlines about Planet Fitness

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

• Neutral Sentiment: Multiple firms, including Rosen Law Firm, Kaplan Fox, Bragar Eagel & Squire, and Faruqi & Faruqi, reminded investors who purchased PLNT securities between November 6, 2025, and May 6, 2026, that the deadline to seek lead-plaintiff status is September 14, 2026. These notices do not establish wrongdoing or guarantee investor compensation. Rosen Law Firm deadline notice
• Negative Sentiment: The pending litigation alleges that Planet Fitness and certain executives violated federal securities laws by failing to disclose marketing and pricing issues that were hurting net membership additions, undermining assumptions about the Black Card rollout, and putting 2026 guidance at risk. Levi & Korsinsky deadline alert
• Negative Sentiment: Law firms characterize the alleged disclosures as contributing to a roughly 31% share-price drop after concerns about low membership growth emerged. The continued publicity increases legal and reputational risk for PLNT, although the financial impact remains uncertain because the allegations have not been proven and no settlement or damages amount was announced. BFA Law Planet Fitness class-action notice

Insider Buying and Selling at Planet Fitness

In related news, Director Stephen Spinelli, Jr. purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares in the company, valued at approximately $2,243,028.48. This represents a 28.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.90% of the company's stock.

Planet Fitness Stock Performance

Shares of PLNT opened at $51.53 on Tuesday. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.26. The firm has a market cap of $3.89 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 1.15 and a beta of 1.03. The firm's 50-day simple moving average is $52.78 and its 200 day simple moving average is $62.28.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.03. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The firm had revenue of $365.22 million during the quarter, compared to the consensus estimate of $356.21 million. During the same period last year, the business posted $0.86 earnings per share. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, equities analysts forecast that Planet Fitness, Inc. will post 3.21 earnings per share for the current year.

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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