Royal Bank of Canada Boosts Stake in Planet Fitness Amid Strong Q2 Performance
Royal Bank of Canada has increased its stake in Planet Fitness by 13.8% during the first quarter, according to a recent filing with the Securities and Exchange Commission. The fund now owns 204,031 shares of Planet Fitness worth $15,177,000, which accounts for 0.26% of the company's outstanding stock. This is not an isolated move, as several other institutional investors have also added or reduced their stakes in Planet Fitness.
In addition to Royal Bank of Canada, V Square Quantitative Management LLC acquired a new stake in shares of Planet Fitness in the fourth quarter valued at $27,000. Clearstead Advisors LLC raised its holdings in shares of Planet Fitness by 135.9% during the fourth quarter and now owns 335 shares worth $36,000.
Planet Fitness has been performing well, exceeding expectations in the second quarter with adjusted EPS of $0.88 versus the $0.85 consensus estimate and revenue of $365.2 million versus estimates of $356.2 million. The company also repurchased and retired approximately $200 million of Class A stock during the quarter while raising its full-year 2026 EPS outlook to approximately $3.254, above the roughly $3.20 analyst consensus.