Planet Fitness (NYSE:PLNT) Trading Down 5.1% - Here's What Happened

Key Points

• Planet Fitness shares fell 5.1% to about $46.97, with trading volume 42% below the average session volume. The stock remains below its 50-day and 200-day moving averages.
• Despite the decline, the company recently beat quarterly expectations, reporting $0.88 in EPS versus $0.85 expected and $365.22 million in revenue, up 7.1% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $70.24 price target. Insider activity was mixed: a director bought shares while the COO sold 7,000 shares.

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) shares fell 5.1% on Monday . The stock traded as low as $47.08 and last traded at $46.9710. 1,195,576 shares were traded during trading, a decline of 42% from the average session volume of 2,068,563 shares. The stock had previously closed at $49.49.

Analyst Upgrades and Downgrades

PLNT has been the subject of several recent research reports. UBS Group reissued a "buy" rating on shares of Planet Fitness in a research report on Monday, July 20th. Cantor Fitzgerald set a $62.00 price objective on Planet Fitness in a research note on Thursday, July 9th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Planet Fitness in a report on Monday, September 14th. Wells Fargo & Company reissued an "overweight" rating on shares of Planet Fitness in a research note on Monday, July 20th. Finally, TD Cowen reaffirmed a "hold" rating on shares of Planet Fitness in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.24.

Planet Fitness Trading Down 5.0%

The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. The stock's fifty day moving average price is $52.26 and its two-hundred day moving average price is $58.58.

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

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Christopher Tanco bought 2,328 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $51.23 per share, for a total transaction of $119,263.44. Following the completion of the purchase, the director directly owned 2,328 shares in the company, valued at $119,263.44. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William Bode sold 7,000 shares of the company's stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $51.22, for a total value of $358,540.00. Following the completion of the transaction, the chief operating officer directly owned 32,939 shares of the company's stock, valued at $1,687,135.58. This trade represents a 17.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Planet Fitness during the fourth quarter worth approximately $108,796,000. Assenagon Asset Management S.A. purchased a new stake in Planet Fitness in the second quarter valued at approximately $44,399,000. Montanova Capital LLC acquired a new stake in shares of Planet Fitness in the second quarter valued at approximately $11,473,000. Van Berkom & Associates Inc. grew its position in shares of Planet Fitness by 21.1% during the first quarter. Van Berkom & Associates Inc. now owns 990,819 shares of the company's stock worth $73,697,000 after acquiring an additional 172,586 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of Planet Fitness by 1.6% during 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 acquiring an additional 149,503 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

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.

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