Fred Alger Management LLC Raises Holdings in Planet Fitness, Inc. $PLNT

Fred Alger Management LLC boosted its position in Planet Fitness, Inc. (NYSE:PLNT) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 503,101 shares of the company’s stock after acquiring an additional 25,719 shares during the quarter. Fred Alger Management LLC’s holdings in Planet Fitness were worth $52,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Planet Fitness in the 2nd quarter worth about $116,175,000. Ninety One UK Ltd lifted its stake in shares of Planet Fitness by 20.0% in the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after purchasing an additional 577,637 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Planet Fitness by 152.8% during the 2nd quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after purchasing an additional 514,876 shares during the period. Invesco Ltd. grew its holdings in shares of Planet Fitness by 15.0% during the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after purchasing an additional 332,362 shares during the period. Finally, Freestone Grove Partners LP increased its position in Planet Fitness by 149.2% during the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock worth $54,768,000 after purchasing an additional 315,941 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness News Roundup

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Jefferies reiterated a Buy and kept an aggressive $175 price target, calling the interim CFO appointment a stabilizing move; that bullish stance signals large upside versus current levels. Jefferies Maintains a Buy Rating on Planet Fitness, Inc. (PLNT) with a $175 Price Target
• Positive Sentiment: KeyBanc (KeyCorp) initiated coverage with an Overweight/“overweight”/“strong-buy” stance and a $100 price target (roughly mid/high double-digit upside), adding another institutional buy-side endorsement. KeyBanc initiates coverage of Planet Fitness (PLNT) with overweight recommendation
• Positive Sentiment: Wells Fargo also initiated coverage with an Overweight recommendation, adding to the recent wave of analyst support and potential demand from institutional buyers. Wells Fargo & Company Initiates Coverage on Planet Fitness (NYSE:PLNT)
• Positive Sentiment: Multiple analyst roundups (TipRanks/Globe and Mail coverage) highlight bullish sentiment on consumer-cyclical names including PLNT, reinforcing the analyst momentum behind the stock. Analysts Offer Insights on Consumer Cyclical Companies: Planet Fitness (PLNT)
• Neutral Sentiment: The company’s interim CFO appointment has drawn analyst attention to Planet Fitness’s valuation and balance sheet — a watchpoint that could slow upside until clarity on debt strategy and financial cadence emerges. Planet Fitness Interim CFO Shift Puts Valuation And Debt In Focus
• Negative Sentiment: Pomerantz LLP launched an investor investigation into Planet Fitness, which introduces litigation risk and may pressure the stock until details and potential exposures are clarified. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Planet Fitness, Inc. – PLNT

Wall Street Analysts Forecast Growth

PLNT has been the topic of several research reports. Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Royal Bank Of Canada decreased their price objective on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Jefferies Financial Group reissued a “buy” rating and issued a $175.00 target price on shares of Planet Fitness in a research note on Tuesday, February 24th. Finally, William Blair restated an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $116.93.

Planet Fitness Price Performance

NYSE:PLNT opened at $73.63 on Monday. The firm has a 50-day moving average of $90.91 and a two-hundred day moving average of $98.84. The stock has a market cap of $5.89 billion, a P/E ratio of 28.10, a PEG ratio of 1.28 and a beta of 1.25. Planet Fitness, Inc. has a 1-year low of $73.29 and a 1-year high of $114.47.

Planet Fitness (NYSE:PLNT) last announced 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 during the quarter, compared to the consensus estimate of $366.48 million. During the same period last year, the firm earned $0.70 earnings per share. The company’s 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. As a group, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

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.