Planet Fitness, Inc. $PLNT Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 503,101 shares of the company’s stock after buying an additional 25,719 shares during the quarter. Fred Alger Management LLC owned about 0.60% of Planet Fitness worth $52,222,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Planet Fitness by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after acquiring an additional 24,981 shares in the last quarter. Empowered Funds LLC purchased a new stake in Planet Fitness during the 1st quarter worth about $1,891,000. Profund Advisors LLC purchased a new stake in Planet Fitness during the 2nd quarter worth about $212,000. ProShare Advisors LLC raised its stake in Planet Fitness by 3.7% in the 2nd quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock valued at $405,000 after purchasing an additional 132 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Planet Fitness by 27.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,131 shares of the company’s stock valued at $450,000 after purchasing an additional 896 shares during 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 Analyst Weigh In

Several equities research analysts have issued reports on PLNT shares. Morgan Stanley reaffirmed an “overweight” rating and set a $117.00 price target on shares of Planet Fitness in a research note on Tuesday, March 10th. Macquarie Infrastructure cut their price objective on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Canaccord Genuity Group upped their price objective on shares of Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Royal Bank Of Canada decreased their target price on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a research note on Wednesday, December 10th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $116.93.

Planet Fitness Price Performance

PLNT opened at $73.63 on Monday. Planet Fitness, Inc. has a 12 month low of $73.29 and a 12 month high of $114.47. The business has a 50-day moving average of $90.91 and a two-hundred day moving average of $98.84. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The business had revenue of $376.26 million for the quarter, compared to analyst estimates of $366.48 million. During the same period in the prior year, the firm posted $0.70 EPS. 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. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

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.