Katamaran Capital LLP Purchases New Stake in Planet Fitness, Inc. $PLNT

Katamaran Capital LLP purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,095 shares of the company’s stock, valued at approximately $974,000. Planet Fitness comprises about 0.8% of Katamaran Capital LLP’s investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. boosted its holdings 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 period. SRS Investment Management LLC lifted its holdings in Planet Fitness by 4.5% during the 4th quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after purchasing an additional 212,145 shares during the last quarter. Steadfast Capital Management LP boosted its stake in Planet Fitness by 4.6% in the 3rd quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock valued at $196,077,000 after purchasing an additional 83,215 shares during the period. Geode Capital Management LLC boosted its stake in Planet Fitness by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company’s stock valued at $179,924,000 after purchasing an additional 26,575 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after buying an additional 24,981 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke acquired 5,000 shares of the stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $46.21 per share, with a total value of $231,050.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $231,050. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by company insiders.

Planet Fitness Trading Up 0.9%

PLNT opened at $50.96 on Wednesday. The company’s 50 day moving average is $51.66 and its 200-day moving average is $73.34. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.47. The company has a market cap of $4.05 billion, a P/E ratio of 18.40, a PEG ratio of 1.10 and a beta of 1.04.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Planet Fitness had a negative return on equity of 81.29% and a net margin of 16.52%.The firm had revenue of $337.24 million for the quarter, compared to analyst estimates of $298.60 million. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, equities analysts forecast that Planet Fitness, Inc. will post 3.18 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on PLNT. UBS Group decreased their price target on shares of Planet Fitness from $120.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Wells Fargo & Company cut their price objective on shares of Planet Fitness from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, May 8th. TD Cowen restated a “hold” rating on shares of Planet Fitness in a research report on Friday, May 29th. Morgan Stanley cut shares of Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 target price on the stock. in a report on Friday, May 8th. Finally, KeyCorp dropped their price target on shares of Planet Fitness from $100.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.71.

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.