Sequoia Financial Advisors LLC Sells 561,388 Shares of Planet Fitness, Inc. $PLNT

Key Points

• Sequoia Financial Advisors slashed its Planet Fitness stake by 99.6% in the fourth quarter, selling 561,388 shares and ending with just 2,202 shares valued at about $239,000.
• Planet Fitness reported strong quarterly results, with EPS of $0.74 beating estimates and revenue of $337.24 million topping expectations; revenue also rose 21.9% year over year.
• Despite the earnings beat, analysts have cut price targets and the stock has a consensus rating of “Moderate Buy” with an average target price of $77.81, while shares recently traded around $50.26.

Sequoia Financial Advisors LLC trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 99.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,202 shares of the company's stock after selling 561,388 shares during the period. Sequoia Financial Advisors LLC's holdings in Planet Fitness were worth $239,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PLNT. V Square Quantitative Management LLC bought a new stake in Planet Fitness in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its holdings in 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 in the last quarter. Hantz Financial Services Inc. raised its position in shares of Planet Fitness by 51.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company's stock valued at $42,000 after purchasing an additional 138 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Planet Fitness during the third quarter valued at about $44,000. Finally, Smartleaf Asset Management LLC raised its stake in Planet Fitness by 131.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 445 shares of the company's stock valued at $47,000 after purchasing an additional 253 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Insider Activity at Planet Fitness

In other news, Director Frances G. Rathke bought 5,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $231,050. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $50.26 on Thursday. The firm has a market capitalization of $3.99 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.12 and a beta of 1.12. The business's 50-day moving average is $67.70 and its 200 day moving average is $88.37. Planet Fitness, Inc. has a 1 year low of $37.03 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping 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 company had revenue of $337.24 million during the quarter, compared to analysts' expectations of $298.60 million. During the same period last year, the business earned $0.59 EPS. Planet Fitness's revenue for the quarter 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, analysts expect that Planet Fitness, Inc. will post 3.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLNT. Stifel Nicolaus reduced their price target on shares of Planet Fitness from $105.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, April 24th. TD Cowen downgraded Planet Fitness from a "buy" rating to a "hold" rating and lowered their price target for the stock from $90.00 to $50.00 in a research report on Friday, May 8th. Royal Bank Of Canada dropped their target price on Planet Fitness from $85.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their target price on shares of Planet Fitness from $120.00 to $105.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Zacks Research cut Planet Fitness from a "hold" rating to a "strong sell" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus target price 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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