CIBC Private Wealth Group LLC Grows Position in Planet Fitness, Inc. $PLNT

CIBC Private Wealth Group LLC increased its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 33.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 273,939 shares of the company’s stock after buying an additional 68,244 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.33% of Planet Fitness worth $28,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLNT. Inceptionr LLC purchased a new stake in Planet Fitness in the second quarter worth approximately $356,000. ABN AMRO Bank N.V. purchased a new stake in Planet Fitness during the 2nd quarter valued at $13,214,000. Citigroup Inc. raised its stake in Planet Fitness by 101.0% during the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock valued at $3,058,000 after buying an additional 14,805 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Planet Fitness by 21.0% during the 3rd quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after buying an additional 130,687 shares during the period. Finally, Pelham Capital Ltd. bought a new position in shares of Planet Fitness during the 3rd quarter valued at $12,841,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

NYSE:PLNT opened at $76.09 on Friday. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 1.30 and a beta of 1.25. Planet Fitness, Inc. has a one year low of $73.01 and a one year high of $114.47. The business has a fifty day moving average price of $88.49 and a 200-day moving average price of $98.08.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, beating 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 the consensus estimate of $366.48 million. During the same period in the previous year, the business earned $0.70 earnings per share. Planet Fitness’s quarterly revenue was up 10.5% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PLNT shares. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Wednesday. Stifel Nicolaus set a $105.00 target price on Planet Fitness in a report on Tuesday, February 24th. Jefferies Financial Group reissued a “buy” rating and issued a $175.00 target price on shares of Planet Fitness in a research report on Tuesday, February 24th. JPMorgan Chase & Co. cut their price target on Planet Fitness from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.93.

Planet Fitness 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.