Planet Fitness, Inc. $PLNT Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC sharply increased its Planet Fitness stake in the fourth quarter, buying 58,689 additional shares and lifting its holdings by 1,886.5% to 61,800 shares worth about $6.7 million.
• Planet Fitness also saw continued interest from other institutions, and hedge funds now own 95.53% of the company’s stock, while corporate insiders hold just 0.90%.
• The company reported better-than-expected earnings for the quarter, with EPS of $0.74 versus $0.63 expected and revenue up 21.9% year over year, even as analysts’ price targets were broadly cut but maintained a Moderate Buy consensus.

Hsbc Holdings PLC raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 1,886.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 61,800 shares of the company's stock after buying an additional 58,689 shares during the period. Hsbc Holdings PLC owned about 0.08% of Planet Fitness worth $6,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PLNT. V Square Quantitative Management LLC acquired a new stake in Planet Fitness during the fourth quarter worth about $27,000. Clearstead Advisors LLC raised its position in Planet Fitness by 135.9% during 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. EverSource Wealth Advisors LLC lifted its holdings in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock valued at $36,000 after acquiring an additional 214 shares during the period. Los Angeles Capital Management LLC acquired a new position in Planet Fitness in the fourth quarter valued at approximately $41,000. Finally, Danske Bank A S purchased a new stake in Planet Fitness in the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Insiders Place Their Bets

In related news, Director Frances G. Rathke acquired 5,000 shares of Planet Fitness stock in a transaction on Friday, May 8th. The stock was bought at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $231,050. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company's stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $51.81 on Thursday. The stock has a market capitalization of $4.12 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.14 and a beta of 1.04. Planet Fitness, Inc. has a 12 month low of $37.03 and a 12 month high of $114.47. The business has a 50 day simple moving average of $52.77 and a 200-day simple moving average of $75.03.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $337.24 million for the quarter, compared to analyst estimates of $298.60 million. During the same quarter last year, the firm posted $0.59 EPS. The business's revenue was up 21.9% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, equities research analysts anticipate that Planet Fitness, Inc. will post 3.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several recent research reports. TD Cowen reaffirmed a "hold" rating on shares of Planet Fitness in a report on Friday, May 29th. Guggenheim lowered their price target on shares of Planet Fitness from $126.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Bank of America restated a "neutral" rating and set a $59.00 price target (down from $110.00) on shares of Planet Fitness in a research report on Friday, May 8th. KeyCorp dropped their price target on shares of Planet Fitness from $100.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Finally, Royal Bank Of Canada cut their price objective on shares of Planet Fitness from $85.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.81.

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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