Cinctive Capital Management LP Has $5.87 Million Stock Holdings in Planet Fitness, Inc. $PLNT

Key Points

• Cinctive Capital cut its Planet Fitness stake by 31.1% in Q3 and now owns 56,501 shares worth about $5.87 million.
• Several large institutions (notably Norges Bank's new ~$116M position, plus increased holdings from Ninety One, Squarepoint, Invesco and Freestone Grove) boosted exposure, leaving institutional ownership at about 95.53%.
• Wall Street sentiment is broadly positive with a consensus "Moderate Buy" and a $116.93 target, though analysts' price targets vary and the stock faces mixed catalysts including an earnings beat, interim CFO scrutiny and an investor investigation.

Cinctive Capital Management LP reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 31.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 56,501 shares of the company's stock after selling 25,501 shares during the quarter. Cinctive Capital Management LP owned approximately 0.07% of Planet Fitness worth $5,865,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Planet Fitness during the second quarter worth $116,175,000. Ninety One UK Ltd increased its holdings in Planet Fitness by 20.0% in the third 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 during the period. Squarepoint Ops LLC increased its holdings in Planet Fitness by 152.8% in the second quarter. Squarepoint Ops LLC now owns 851,866 shares of the company's stock valued at $92,896,000 after purchasing an additional 514,876 shares during the period. Invesco Ltd. raised its position in 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 last quarter. Finally, Freestone Grove Partners LP lifted its holdings 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 buying an additional 315,941 shares during the period. Institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank Of Canada reduced their price target on Planet Fitness from $130.00 to $120.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered their price objective on Planet Fitness from $120.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. TD Cowen reaffirmed a "buy" rating on shares of Planet Fitness in a research note on Tuesday. William Blair reiterated an "outperform" rating on shares of Planet Fitness in a report on Tuesday, January 13th. Finally, Guggenheim raised shares of Planet Fitness to a "strong-buy" rating in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $116.93.

Trending Headlines about Planet Fitness

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

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $73.63 on Friday. The stock's 50-day moving average is $90.91 and its 200 day moving average is $98.89. Planet Fitness, Inc. has a one year low of $73.29 and a one year high of $114.47. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.28 and a beta of 1.25.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share (EPS) 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 earned $0.70 earnings per share. Planet Fitness'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. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal 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.

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