Planet Fitness (NYSE:PLNT) Director Christopher Tanco Purchases 2,328 Shares

Key Points

• Planet Fitness Director Christopher Tanco purchased 2,328 shares at an average price of $51.23, investing approximately $119,263 and becoming the direct owner of those shares.
• PLNT shares recently traded at $50.05, with a market capitalization of $3.78 billion and a 52-week range of $37.03 to $114.26. The company’s latest quarterly results exceeded expectations, reporting $0.88 EPS and $365.22 million in revenue, up 7.1% year over year.
• Analysts maintain a generally positive view, giving the stock a “Moderate Buy” consensus rating and an average price target of $70.24; institutional investors own 95.53% of the company.

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) Director Christopher Tanco purchased 2,328 shares of the company's stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average cost of $51.23 per share, for a total transaction of $119,263.44. Following the completion of the transaction, the director directly owned 2,328 shares of the company's stock, valued at $119,263.44. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Planet Fitness Price Performance

Planet Fitness stock traded down $0.76 during mid-day trading on Wednesday, hitting $50.05. The company's stock had a trading volume of 2,066,022 shares, compared to its average volume of 2,065,675. Planet Fitness, Inc. has a 52-week low of $37.03 and a 52-week high of $114.26. The company has a market cap of $3.78 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The firm's 50 day moving average is $52.36 and its 200 day moving average is $59.28.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.88 earnings per share 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 analysts' expectations of $356.21 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, analysts forecast that Planet Fitness, Inc. will post 3.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of Planet Fitness from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Planet Fitness in a research note on Monday, July 20th. Morgan Stanley lifted their price objective on Planet Fitness from $47.00 to $51.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Finally, UBS Group reaffirmed a "buy" rating on shares of Planet Fitness in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $70.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. boosted its holdings in Planet Fitness by 1.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company's stock worth $1,001,848,000 after purchasing an additional 149,503 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Planet Fitness by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company's stock worth $179,924,000 after buying an additional 26,575 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Planet Fitness by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,238,129 shares of the company's stock worth $92,091,000 after acquiring an additional 21,914 shares in the last quarter. Norges Bank bought a new stake in shares of Planet Fitness during the 4th quarter worth about $108,796,000. Finally, Van Berkom & Associates Inc. increased its holdings in shares of Planet Fitness by 21.1% during the 1st quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company's stock valued at $73,697,000 after acquiring an additional 172,586 shares during the last quarter. Institutional investors own 95.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.