Fred Alger Management LLC Sells 26,719 Shares of Planet Fitness, Inc. $PLNT

Fred Alger Management LLC lowered its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 476,382 shares of the company’s stock after selling 26,719 shares during the quarter. Fred Alger Management LLC’s holdings in Planet Fitness were worth $51,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Planet Fitness in the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its holdings in Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares during the period. Clearstead Advisors LLC boosted its holdings in Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 193 shares during the period. Los Angeles Capital Management LLC bought a new stake in Planet Fitness in the 4th quarter valued at about $41,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Planet Fitness by 131.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 445 shares of the company’s stock valued at $47,000 after purchasing an additional 253 shares during the period. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PLNT. Royal Bank Of Canada cut their price objective on shares of Planet Fitness from $85.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, May 8th. UBS Group cut their price objective on shares of Planet Fitness from $120.00 to $79.00 and set a “buy” rating for the company in a report on Friday, May 15th. William Blair downgraded shares of Planet Fitness from an “outperform” rating to a “market perform” rating in a report on Thursday, May 7th. KGI Securities downgraded shares of Planet Fitness to a “neutral” rating and set a $50.50 price objective for the company. in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.81.

Planet Fitness Trading Up 0.7%

Shares of Planet Fitness stock opened at $50.35 on Wednesday. The company has a 50 day moving average of $58.93 and a 200-day moving average of $81.47. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.47. The company has a market cap of $4.00 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.

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

Insider Buying and Selling at Planet Fitness

In other news, Director Frances G. Rathke purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was bought 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 in the company, valued at approximately $231,050. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

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.