Planet Fitness (NYSE:PLNT) Stock Price Down 3.7% - Should You Sell?

Key Points

• Planet Fitness shares fell 3.7% to about $51.87, trading well below their 200-day moving average of $63.67. The decline follows investor concerns and securities-fraud lawsuits alleging misleading disclosures about Black Card pricing increases and membership-growth prospects; the allegations remain unproven.
• The company’s latest quarter exceeded expectations, with EPS of $0.88 versus $0.85 expected and revenue of $365.2 million, up 7.1% year over year. Analysts maintain a consensus “Moderate Buy” rating and a $70.24 price target, though several firms have recently reduced targets or downgraded the stock.
• Insider and institutional activity has been supportive: a director bought 10,000 shares at $49.28, while institutional investors own 95.53% of the stock. Investors involved in the relevant share-purchase period have until September 14, 2026 to seek lead-plaintiff status in the class-action case.

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) traded down 3.7% during trading on Tuesday . The company traded as low as $51.94 and last traded at $51.8720. Approximately 394,803 shares were traded during mid-day trading, a decline of 81% from the average session volume of 2,098,541 shares. The stock had previously closed at $53.86.

Key Headlines Impacting Planet Fitness

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

• Neutral Sentiment: Investors who purchased Planet Fitness securities between November 6, 2025, and May 6, 2026, may participate in the case or seek appointment as lead plaintiff by September 14, 2026. The deadline itself does not establish wrongdoing or guarantee compensation. Rosen Law Firm class action deadline announcement
• Negative Sentiment: The lawsuit alleges that Planet Fitness and certain executives misled investors about the rollout of a Black Card membership price increase, the company’s three-year growth algorithm and membership-growth prospects. One legal notice says the stock fell from $63.96 on May 6 to $44.01 on May 7, after concerns about the company’s outlook emerged. The allegations remain unproven, but continued filings from firms including Portnoy, Block & Leviton, SueWallSt and others are likely intensifying selling pressure and uncertainty around potential damages and management credibility. Levi & Korsinsky Planet Fitness shareholder alert SueWallSt Planet Fitness class action deadline

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $62.00 price target on shares of Planet Fitness in a research report on Friday, August 7th. Weiss Ratings downgraded Planet Fitness from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 18th. Bank of America reissued a "neutral" rating and set a $59.00 price objective (down from $110.00) on shares of Planet Fitness in a research note on Friday, May 8th. Zacks Research upgraded Planet Fitness from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. Finally, Roth Capital cut their target price on Planet Fitness from $109.00 to $64.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.24.

Planet Fitness Price Performance

The firm has a market cap of $3.90 billion, a PE ratio of 17.53, a P/E/G ratio of 1.17 and a beta of 1.03. The business has a fifty day moving average price of $52.67 and a two-hundred day moving average price of $63.67.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.03. The firm had revenue of $365.22 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.86 EPS. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 3.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen Spinelli, Jr. purchased 10,000 shares of the business's stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $49.28 per share, with a total value of $492,800.00. Following the purchase, the director directly owned 45,516 shares of the company's stock, valued at approximately $2,243,028.48. This trade 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 the SEC website. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Planet Fitness

A number of large investors have recently bought and sold shares of PLNT. California State Teachers Retirement System increased its holdings in Planet Fitness by 4,900.2% in the 2nd quarter. California State Teachers Retirement System now owns 4,754,461 shares of the company's stock valued at $248,040,000 after buying an additional 4,659,376 shares during the period. Norges Bank bought a new position in shares of Planet Fitness during the 4th quarter worth about $108,796,000. Assenagon Asset Management S.A. bought a new position in shares of Planet Fitness during the 2nd quarter worth about $44,399,000. Freestone Grove Partners LP boosted its position in shares of Planet Fitness by 149.2% during the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company's stock valued at $54,768,000 after acquiring an additional 315,941 shares in the last quarter. Finally, Montanova Capital LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter valued at about $11,473,000. 95.53% of the stock is currently owned by institutional investors.

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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