SG Americas Securities LLC Acquires 67,907 Shares of Planet Fitness, Inc. $PLNT

Key Points

• SG Americas Securities increased its Planet Fitness stake by 251.6% in the first quarter, buying 67,907 shares and bringing its total holding to 94,896 shares worth about $7.06 million.
• Planet Fitness reported strong first-quarter earnings, with EPS of $0.74 versus estimates of $0.63 and revenue of $337.24 million, up 21.9% year over year.
• Analysts remain cautious overall: the stock has a Moderate Buy consensus rating, but several firms recently cut price targets, and the average target now sits at $77.81.

SG Americas Securities LLC boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 251.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,896 shares of the company's stock after purchasing an additional 67,907 shares during the quarter. SG Americas Securities LLC owned about 0.12% of Planet Fitness worth $7,058,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PLNT. MML Investors Services LLC lifted its position in shares of Planet Fitness by 1.3% during the 4th quarter. MML Investors Services LLC now owns 9,811 shares of the company's stock valued at $1,064,000 after acquiring an additional 122 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Planet Fitness by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company's stock worth $2,764,000 after purchasing an additional 123 shares during the period. Crossmark Global Holdings Inc. increased its stake in Planet Fitness by 2.8% in the third quarter. Crossmark Global Holdings Inc. now owns 5,963 shares of the company's stock valued at $619,000 after purchasing an additional 163 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Planet Fitness by 4.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,782 shares of the company's stock valued at $410,000 after purchasing an additional 168 shares during the period. Finally, Clearstead Advisors LLC raised its holdings in shares of 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 purchasing an additional 193 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Trading Up 1.6%

Shares of NYSE:PLNT opened at $52.76 on Friday. The stock has a market cap of $4.19 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04. The stock's fifty day simple moving average is $55.70 and its two-hundred day simple moving average is $78.42. 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 posted its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $337.24 million during 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 business's revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 3.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLNT. Jefferies Financial Group set a $133.00 target price on Planet Fitness in a research note on Thursday, May 7th. TD Cowen reissued a "hold" rating on shares of Planet Fitness in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on Planet Fitness from $98.00 to $61.00 and set a "hold" rating for the company in a report on Friday, May 8th. Guggenheim lowered their target price on Planet Fitness from $126.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Finally, UBS Group cut their target price on Planet Fitness from $120.00 to $79.00 and set a "buy" rating on the stock in a report on Friday, May 15th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and an average price target of $77.81.

Insiders Place Their Bets

In other news, Director Frances G. Rathke acquired 5,000 shares of Planet Fitness stock in a transaction on 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 transaction, the director owned 5,000 shares of the company's stock, valued at approximately $231,050. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company's stock.

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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