Fred Alger Management LLC Has $51.67 Million Stock Holdings in Planet Fitness, Inc. $PLNT

Fred Alger Management LLC trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 476,382 shares of the company’s stock after selling 26,719 shares during the period. Fred Alger Management LLC owned about 0.57% of Planet Fitness worth $51,673,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of Planet Fitness by 101.0% during the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock worth $3,058,000 after buying an additional 14,805 shares during the last quarter. Burney Co. acquired a new position in shares of Planet Fitness during the 4th quarter worth about $2,221,000. Aberdeen Group plc acquired a new position in shares of Planet Fitness during the 4th quarter worth about $10,688,000. CIBC Private Wealth Group LLC boosted its stake in shares of Planet Fitness by 33.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 273,939 shares of the company’s stock worth $28,435,000 after buying an additional 68,244 shares during the last quarter. Finally, Triodos Investment Management BV boosted its stake in shares of Planet Fitness by 16.0% during the 3rd quarter. Triodos Investment Management BV now owns 297,000 shares of the company’s stock worth $30,829,000 after buying an additional 41,000 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLNT has been the topic of several recent analyst reports. Piper Sandler lowered shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a research note on Friday, February 27th. William Blair lowered shares of Planet Fitness from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 7th. TD Cowen restated a “hold” rating on shares of Planet Fitness in a research note on Friday, May 29th. Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Stifel Nicolaus lowered their price objective on shares of Planet Fitness from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.81.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $50.35 on Wednesday. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.09 and a beta of 1.04. The company has a 50-day simple moving average of $58.93 and a 200 day simple moving average of $81.47. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.47.

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

Insider Activity at Planet Fitness

In related news, Director Frances G. Rathke bought 5,000 shares of Planet Fitness stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $46.21 per share, with a total value of $231,050.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $231,050. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

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.