Planet Fitness shares detracted from the Alger Weatherbie Specialized Growth Fund's performance in the second quarter of 2026 after the company lowered its revenue and earnings outlook. The fitness franchisor, which operates a budget-friendly gym model, saw member sign-ups fall short of internal expectations following a recent brand repositioning. Sentiment was also pressured by management transition concerns, including the departure of the Chief Financial Officer, and broader pressure on discretionary consumer spending. Planet Fitness closed at $55.25 per share on July 20, 2026, with a one-month return of 6.58% and a 52-week loss of 51.34%, giving it a market capitalization of $4.38 billion.
Planet Fitness IncMember sign-ups fell short of expectations after brand repositioning.