VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 29,200 Planet Fitness, Inc. $PLNT

Key Points

• Virginia Retirement Systems acquired 29,200 Planet Fitness shares worth approximately $1.52 million during the second quarter. Institutional investors now own 95.53% of the company, while a director separately purchased 10,000 shares for about $492,800.
• Planet Fitness exceeded quarterly expectations, reporting $0.88 in EPS versus the $0.85 consensus and revenue of $365.22 million, up 7.1% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $70.24.
• The company faces a federal securities class-action lawsuit covering investors who purchased shares between November 6, 2025, and May 6, 2026, with a lead-plaintiff deadline of September 14, 2026. Multiple law-firm notices could contribute to near-term headline volatility, although the allegations remain unproven.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,200 shares of the company's stock, valued at approximately $1,523,000.

A number of other hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in shares of Planet Fitness by 285.9% in the 2nd quarter. Versant Capital Management Inc now owns 494 shares of the company's stock worth $26,000 after buying an additional 366 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Planet Fitness by 135.9% during the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock worth $36,000 after buying an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after buying an additional 214 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Planet Fitness in the fourth quarter worth about $41,000. Finally, Danske Bank A S bought a new stake in Planet Fitness in the third quarter worth about $52,000. 95.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Planet Fitness news, Director Stephen Spinelli, Jr. acquired 10,000 shares of Planet Fitness stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $49.28 per share, for a total transaction of $492,800.00. Following the purchase, the director owned 45,516 shares of the company's stock, valued at approximately $2,243,028.48. This represents a 28.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company's stock.

Planet Fitness News Roundup

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

• Neutral Sentiment: Multiple law firms publicized the same federal securities class action and urged investors to seek lead-plaintiff status by September 14, 2026. The notices generally cover investors who purchased Planet Fitness securities between November 6, 2025, and May 6, 2026, meaning the numerous releases appear largely duplicative rather than evidence of separate new lawsuits. Kaplan Fox class action announcement
• Negative Sentiment: The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act and SEC Rule 10b-5. Although the allegations have not been proven, the case creates potential legal costs, management distraction, and uncertainty regarding any eventual damages or settlement, which can weigh on investor sentiment. DJS Law Group lawsuit announcement
• Negative Sentiment: The unusually high volume of nearly identical alerts from Kaplan Fox, Bragar Eagel & Squire, Faruqi & Faruqi, Rosen, Pomerantz, Bernstein Liebhard, SBS, and other firms keeps the alleged securities-fraud claims prominent in the market through the deadline. This may increase near-term headline volatility even though the releases provide no new financial information. Kaplan Fox investor alert

Planet Fitness Stock Up 1.8%

Shares of NYSE:PLNT opened at $50.86 on Friday. The firm has a market capitalization of $3.84 billion, a PE ratio of 17.24, a P/E/G ratio of 1.08 and a beta of 1.01. Planet Fitness, Inc. has a twelve month low of $37.03 and a twelve month high of $114.26. The company has a 50-day moving average price of $52.41 and a two-hundred day moving average price of $59.92.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.03. The company had revenue of $365.22 million for the quarter, compared to analyst estimates of $356.21 million. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Analysts anticipate that Planet Fitness, Inc. will post 3.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company reissued an "overweight" rating on shares of Planet Fitness in a research report on Monday, July 20th. UBS Group reaffirmed a "buy" rating on shares of Planet Fitness in a report on Monday, July 20th. Morgan Stanley upped their price objective on Planet Fitness from $47.00 to $51.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 18th. TD Cowen reissued a "hold" rating on shares of Planet Fitness in a report on Friday, May 29th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $62.00 target price on shares of Planet Fitness in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.24.

Planet Fitness Company Profile

Planet Fitness, Inc NYSE: PLNT is a franchised fitness-center company that operates under the Planet Fitness brand. Its clubs provide access to cardiovascular and strength-training equipment, free weights, locker rooms, and other basic fitness amenities in a low-cost, welcoming environment designed to appeal to a broad range of consumers.

The company is known for its “Judgement Free Zone” concept, which emphasizes an approachable atmosphere for first-time, casual, and experienced gym users.

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