Planet Fitness, Inc. $PLNT Shares Sold by Franklin Resources Inc.

Key Points

• Franklin Resources cut its Planet Fitness stake by 35.9% in the fourth quarter, selling 518,022 shares and leaving it with 926,108 shares worth about $100.5 million.
• Planet Fitness reported better-than-expected quarterly results, with EPS of $0.74 versus $0.63 expected and revenue of $337.24 million, up 21.9% year over year.
• Analysts remain mixed but generally positive: the stock has a Moderate Buy consensus rating with an average target price of $77.81, though several firms recently lowered their price targets.

Franklin Resources Inc. lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 35.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 926,108 shares of the company's stock after selling 518,022 shares during the quarter. Franklin Resources Inc. owned about 1.11% of Planet Fitness worth $100,455,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Steadfast Capital Management LP raised its holdings in Planet Fitness by 4.6% in the third quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company's stock valued at $196,077,000 after acquiring an additional 83,215 shares in the last quarter. Geode Capital Management LLC raised its holdings in Planet Fitness by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company's stock valued at $179,924,000 after acquiring an additional 26,575 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Planet Fitness by 1.8% in 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 in the last quarter. Norges Bank acquired a new stake in Planet Fitness in the fourth quarter valued at approximately $108,796,000. Finally, UBS Group AG raised its holdings in Planet Fitness by 4.0% in the third quarter. UBS Group AG now owns 824,395 shares of the company's stock valued at $85,572,000 after acquiring an additional 31,605 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Down 0.6%

Shares of Planet Fitness stock opened at $50.65 on Thursday. The firm has a market capitalization of $4.02 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.11 and a beta of 1.04. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.47. The firm's 50 day moving average is $60.74 and its two-hundred day moving average is $83.15.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $337.24 million for the quarter, compared to analyst estimates of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The firm's revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, research analysts expect that Planet Fitness, Inc. will post 3.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Guggenheim reduced their target price 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. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Planet Fitness from $98.00 to $61.00 and set a "hold" rating on the stock in a report on Friday, May 8th. KGI Securities cut shares of Planet Fitness to a "neutral" rating and set a $50.50 target price on the stock. in a report on Friday, May 8th. Weiss Ratings cut shares of Planet Fitness from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Finally, Canaccord Genuity Group set a $80.00 target price on shares of Planet Fitness in a report on Friday, May 8th. One equities research 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.81.

Insider Buying and Selling

In related news, Director Frances G. Rathke purchased 5,000 shares of the company's stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company's stock, valued at approximately $231,050. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

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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