Insider Buying: Planet Fitness (NYSE:PLNT) Director Buys $492,800.00 in Stock

Key Points

• Planet Fitness director Stephen Spinelli Jr. purchased 10,000 shares at $49.28 each, investing $492,800 and increasing his ownership by 28.16% to 45,516 shares.
• PLNT shares fell 2.3% to $47.83, despite the company beating quarterly earnings and revenue estimates; revenue rose 7.1% year over year.
• Investor sentiment is mixed: analysts maintain a “Moderate Buy” consensus with a $70.03 average price target, while securities lawsuits allege investors were misled about membership growth and business prospects following a reported 31% stock decline.

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) Director Stephen Spinelli, Jr. acquired 10,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $49.28 per share, with a total value of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares in the company, 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 legal filing with the SEC, which can be accessed through this hyperlink.

Planet Fitness Stock Down 2.3%

Shares of Planet Fitness stock traded down $1.13 during trading on Tuesday, hitting $47.83. 3,000,684 shares of the company were exchanged, compared to its average volume of 2,121,670. Planet Fitness, Inc. has a fifty-two week low of $37.03 and a fifty-two week high of $114.26. The firm has a 50 day moving average price of $52.60 and a 200 day moving average price of $66.60. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 1.07 and a beta of 1.03.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $356.21 million. During the same quarter last year, the business posted $0.86 earnings per share. Planet Fitness's revenue was up 7.1% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Analysts predict that Planet Fitness, Inc. will post 3.24 earnings per share for the current year.

Key Stories Impacting Planet Fitness

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

• Neutral Sentiment: Several firms reminded investors of a September 14, 2026 deadline to seek appointment as lead plaintiff. The notices generally cover investors who purchased PLNT shares between November 6, 2025, and May 6, 2026, and do not establish that Planet Fitness or its executives violated securities laws. Rosen investor notice
• Negative Sentiment: The lawsuits allege that Planet Fitness and certain senior executives misled investors about membership growth and business prospects. The claims focus on an allegedly unsuccessful marketing campaign that alienated casual gym-goers and contributed to disappointing membership growth during the important first-quarter sign-up period. The allegations followed a reported more than 31% stock decline, creating potential legal costs, reputational damage, and additional uncertainty for investors. Bleichmar Fonti & Auld lawsuit announcement
• Negative Sentiment: The repeated investor alerts from Pomerantz, Rosen, Faruqi & Faruqi, Gross, Kaplan Fox, and other firms increase the visibility of the litigation, although most announcements repeat the same underlying complaint and deadline rather than report a new operating development. Pomerantz investor alert

Institutional Trading of Planet Fitness

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in Planet Fitness by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company's stock valued at $134,201,000 after acquiring an additional 24,981 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Planet Fitness in the 1st quarter worth about $1,891,000. EverSource Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 214 shares during the period. First Trust Advisors LP lifted its stake in shares of Planet Fitness by 25.8% in the 2nd quarter. First Trust Advisors LP now owns 142,689 shares of the company's stock valued at $15,560,000 after purchasing an additional 29,305 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Planet Fitness in the 2nd quarter valued at about $267,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD Cowen restated a "hold" rating on shares of Planet Fitness in a report on Friday, May 29th. Zacks Research upgraded shares of Planet Fitness from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. Wells Fargo & Company reissued an "overweight" rating on shares of Planet Fitness in a research report on Monday, July 20th. Canaccord Genuity Group raised their target price on shares of Planet Fitness from $80.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.03.

About Planet Fitness

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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