Osborne Partners Capital Management LLC Raises Stock Holdings in Planet Fitness, Inc. $PLNT

Key Points

• Osborne Partners Capital Management boosted its Planet Fitness stake by 110.6% in the first quarter, ending with 152,197 shares worth about $11.32 million.
• Planet Fitness reported better-than-expected quarterly results, posting earnings of $0.74 per share versus the $0.63 estimate and revenue of $337.24 million versus $298.60 million expected.
• Analyst sentiment remains mixed but constructive, with the stock carrying a “Moderate Buy” rating overall and an average target price of $77.81, even as several firms recently cut their price targets.

Osborne Partners Capital Management LLC raised its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 110.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,197 shares of the company's stock after buying an additional 79,915 shares during the quarter. Osborne Partners Capital Management LLC owned about 0.19% of Planet Fitness worth $11,320,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Planet Fitness by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company's stock valued at $134,201,000 after acquiring an additional 24,981 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Planet Fitness in the 1st quarter worth approximately $1,891,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 214 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Planet Fitness by 25.8% during the 2nd quarter. First Trust Advisors LP now owns 142,689 shares of the company's stock worth $15,560,000 after purchasing an additional 29,305 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Planet Fitness during the 2nd quarter worth approximately $267,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Insider Activity at Planet Fitness

In related news, Director Frances G. Rathke acquired 5,000 shares of the business's stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $46.21 per share, with a total value of $231,050.00. Following the completion of the transaction, the director owned 5,000 shares of the company's stock, valued at $231,050. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLNT. Stifel Nicolaus dropped their target price on shares of Planet Fitness from $105.00 to $90.00 and set a "buy" rating for the company in a report on Friday, April 24th. Wells Fargo & Company decreased their price target on Planet Fitness from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Canaccord Genuity Group set a $80.00 price target on Planet Fitness in a research report on Friday, May 8th. Jefferies Financial Group set a $133.00 price objective on Planet Fitness in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Planet Fitness from $98.00 to $61.00 and set a "hold" rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $77.81.

Planet Fitness Stock Performance

Shares of PLNT opened at $53.40 on Friday. The company's 50-day simple moving average is $53.74 and its 200-day simple moving average is $76.48. Planet Fitness, Inc. has a 1 year low of $37.03 and a 1 year high of $114.47. The stock has a market capitalization of $4.24 billion, a PE 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 announced its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.11. The firm had revenue of $337.24 million during the quarter, compared to analysts' expectations of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The business's quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, sell-side analysts predict that Planet Fitness, Inc. will post 3.18 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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