Citigroup Inc. Increases Stock Position in Planet Fitness, Inc. $PLNT

Citigroup Inc. grew its stake in Planet Fitness, Inc. (NYSE:PLNT) by 101.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,461 shares of the company’s stock after buying an additional 14,805 shares during the period. Citigroup Inc.’s holdings in Planet Fitness were worth $3,058,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLNT. Pelham Capital Ltd. bought a new stake in shares of Planet Fitness during the 3rd quarter worth $12,841,000. PNC Financial Services Group Inc. lifted its stake in Planet Fitness by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 4,402 shares of the company’s stock worth $457,000 after purchasing an additional 271 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Planet Fitness by 61.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 58,586 shares of the company’s stock worth $6,081,000 after purchasing an additional 22,303 shares in the last quarter. Cibc World Market Inc. increased its position in shares of Planet Fitness by 1.2% during the 3rd quarter. Cibc World Market Inc. now owns 8,607 shares of the company’s stock valued at $893,000 after purchasing an additional 98 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Planet Fitness by 22.0% during the 3rd quarter. Impax Asset Management Group plc now owns 194,271 shares of the company’s stock valued at $20,165,000 after buying an additional 35,000 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Down 1.8%

PLNT stock opened at $79.90 on Friday. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.42 and a beta of 1.25. The firm’s 50-day moving average price is $94.81 and its two-hundred day moving average price is $100.20. Planet Fitness, Inc. has a 12-month low of $77.00 and a 12-month high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The company had revenue of $376.26 million for the quarter, compared to analysts’ expectations of $366.48 million. During the same period last year, the firm earned $0.70 earnings per share. Planet Fitness’s quarterly revenue was up 10.5% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. Equities analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PLNT shares. Stifel Nicolaus set a $105.00 target price on Planet Fitness in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $175.00 target price on shares of Planet Fitness in a research report on Tuesday, February 24th. Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Planet Fitness from $115.00 to $98.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.58.

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.