Walter Public Investments Inc. Sells 95,476 Shares of Planet Fitness, Inc. $PLNT

Key Points

• Walter Public Investments cut its Planet Fitness stake by 50.4% in the fourth quarter, selling 95,476 shares and leaving it with 93,991 shares worth about $10.2 million.
• Planet Fitness insider activity included Director Frances G. Rathke buying 5,000 shares at $46.21 each, signaling a recent insider purchase.
• The company reported better-than-expected quarterly results, with EPS of $0.74 and revenue of $337.24 million, while analysts have a consensus rating of Moderate Buy with an average price target of $77.81.

Walter Public Investments Inc. lowered its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 50.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,991 shares of the company's stock after selling 95,476 shares during the period. Planet Fitness comprises 1.8% of Walter Public Investments Inc.'s holdings, making the stock its 26th largest position. Walter Public Investments Inc. owned 0.11% of Planet Fitness worth $10,195,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Cibc World Market Inc. increased its position in shares of Planet Fitness by 1.2% in the 3rd quarter. Cibc World Market Inc. now owns 8,607 shares of the company's stock valued at $893,000 after buying an additional 98 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Planet Fitness by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 26,627 shares of the company's stock valued at $2,764,000 after buying an additional 123 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Planet Fitness by 51.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company's stock valued at $42,000 after buying an additional 138 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Planet Fitness by 2.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,963 shares of the company's stock valued at $619,000 after buying an additional 163 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Planet Fitness by 4.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,782 shares of the company's stock valued at $410,000 after buying an additional 168 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Insider Activity at Planet Fitness

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. KGI Securities cut shares of Planet Fitness to a "neutral" rating and set a $50.50 price objective for the company. in a research report on Friday, May 8th. Weiss Ratings cut Planet Fitness from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their target price on Planet Fitness from $120.00 to $105.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Roth Mkm lowered their target price on Planet Fitness from $109.00 to $64.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada lowered their target price on Planet Fitness from $85.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 8th. One research 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 given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $77.81.

Planet Fitness Price Performance

Planet Fitness stock opened at $53.43 on Friday. The firm has a 50-day moving average of $64.49 and a 200-day moving average of $86.29. Planet Fitness, Inc. has a one year low of $37.03 and a one year high of $114.47. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.16 and a beta of 1.12.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $298.60 million. During the same period in the prior year, the business posted $0.59 EPS. The company's quarterly revenue was up 21.9% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

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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