Wedmont Private Capital Purchases New Stake in Planet Fitness, Inc. $PLNT

Key Points

• Wedmont Private Capital purchased 35,790 Planet Fitness shares in the second quarter, valued at approximately $1.84 million. Institutional investors and hedge funds collectively own 95.53% of the company.
• Director Stephen Spinelli Jr. bought 10,000 shares for roughly $492,800, increasing his position by 28.16%; corporate insiders now own 0.90% of the stock.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $70.24, while Planet Fitness recently exceeded quarterly earnings and revenue estimates, reporting $0.88 EPS and $365.22 million in revenue.

Wedmont Private Capital purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 35,790 shares of the company's stock, valued at approximately $1,837,000.

Several other institutional investors have also recently bought and sold shares of PLNT. Versant Capital Management Inc grew its holdings in shares of Planet Fitness by 285.9% during the second quarter. Versant Capital Management Inc now owns 494 shares of the company's stock valued at $26,000 after buying an additional 366 shares during the last quarter. Clearstead Advisors LLC lifted its position in Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock valued at $36,000 after acquiring an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Planet Fitness during the 4th quarter valued at about $41,000. Finally, Danske Bank A S bought a new stake in Planet Fitness during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Stephen Spinelli, Jr. acquired 10,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $49.28 per share, with a total value of $492,800.00. Following the transaction, the director owned 45,516 shares in the company, valued at $2,243,028.48. The trade was a 28.16% 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. 0.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on PLNT shares. Cantor Fitzgerald set a $62.00 target price on Planet Fitness in a research report on Thursday, July 9th. Jefferies Financial Group set a $106.00 price objective on Planet Fitness in a research note on Thursday, August 6th. Roth Capital cut their price objective on shares of Planet Fitness from $109.00 to $64.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $55.00 target price on shares of Planet Fitness in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada lowered their target price on shares of Planet Fitness from $70.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, August 7th. One equities 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.com, Planet Fitness presently has a consensus rating of "Moderate Buy" and an average price target of $70.24.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $50.78 on Tuesday. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.26. The business has a fifty day moving average price of $52.64 and a 200-day moving average price of $60.88. The company has a market capitalization of $3.84 billion, a PE ratio of 17.21, a PEG ratio of 1.10 and a beta of 1.01.

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

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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