Principal Financial Group Inc. Lowers Stock Position in Planet Fitness, Inc. $PLNT

Key Points

• Principal Financial Group cut its Planet Fitness stake by 21.8% in the first quarter, selling 52,042 shares and leaving it with 186,678 shares valued at about $13.9 million.
• Planet Fitness said it will report second-quarter 2026 results on August 6, 2026, which investors will watch for updates on membership trends and guidance execution.
• The stock remains under pressure from a securities class action alleging the company overstated marketing effectiveness and failed to fully disclose issues that hurt sign-ups and guidance, while analysts have also recently lowered ratings and price targets.

Principal Financial Group Inc. reduced its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 21.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,678 shares of the company's stock after selling 52,042 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Planet Fitness worth $13,885,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PLNT. Norges Bank purchased a new position in Planet Fitness in the 4th quarter worth $108,796,000. Freestone Grove Partners LP boosted its stake in shares of Planet Fitness by 149.2% in the third quarter. Freestone Grove Partners LP now owns 527,634 shares of the company's stock worth $54,768,000 after buying an additional 315,941 shares during the last quarter. SRS Investment Management LLC boosted its stake in shares of Planet Fitness by 4.5% in the fourth quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company's stock worth $529,071,000 after buying an additional 212,145 shares during the last quarter. Mane Global Capital Management LP acquired a new stake in Planet Fitness during the third quarter worth about $20,760,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Planet Fitness by 1.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company's stock worth $1,001,848,000 after acquiring an additional 149,503 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Key Headlines Impacting Planet Fitness

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

• Positive Sentiment: Planet Fitness said it will report second-quarter 2026 results on August 6, 2026, which could provide a clearer look at membership trends, pricing, and guidance execution. Article Title
• Neutral Sentiment: Several law firms issued investor reminders and deadline notices about the existing securities class action, increasing attention on the case but adding no new operating facts. Article Title
• Neutral Sentiment: Other firms, including Bernstein Liebhard, Pomerantz, Rosen, Faruqi & Faruqi, Wolf Haldenstein, and others, also published similar notices about the same lawsuit and deadline. Article Title
• Negative Sentiment: The class action alleges Planet Fitness overstated marketing effectiveness and failed to adequately disclose problems that hurt sign-ups and guidance, which is a negative catalyst for sentiment and could keep pressure on the shares. Article Title

Planet Fitness Stock Up 0.5%

NYSE PLNT opened at $54.31 on Friday. The firm has a market cap of $4.31 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.18 and a beta of 1.04. The business's 50-day moving average price is $52.12 and its 200 day moving average price is $70.60. Planet Fitness, Inc. has a 52-week low of $37.03 and a 52-week high of $114.26.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $298.60 million. During the same quarter last year, the firm earned $0.59 earnings per share. The firm's revenue 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. As a group, analysts anticipate that Planet Fitness, Inc. will post 3.17 earnings per share for the current year.

Insider Activity at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke acquired 5,000 shares of the company's stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $46.21 per share, with a total value of $231,050.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $231,050. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley cut Planet Fitness from an "overweight" rating to an "equal weight" rating and set a $47.00 price objective for the company. in a research report on Friday, May 8th. William Blair lowered shares of Planet Fitness from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 7th. KeyCorp decreased their target price on shares of Planet Fitness from $100.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Bank of America reaffirmed a "neutral" rating and issued a $59.00 price target (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. Finally, Cantor Fitzgerald set a $62.00 price objective on Planet Fitness in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.50.

Planet Fitness 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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