Sea Cliff Partners Management cut its Planet Fitness (NYSE:PLNT) stake by 102,519 shares in first-quarter 2026, an estimated $9.01 million trade based on quarterly average pricing, according to a May 15, 2026, SEC filing.
What happened According to a May 15, 2026, SEC filing, Sea Cliff Partners Management reduced its Planet Fitness holding by 102,519 shares during the first quarter of 2026
The estimated transaction value was $9.01 million, based on the period’s average share price. At quarter-end, the fund reported owning 102,481 Planet Fitness shares, with the position’s value falling by $14.61 million from the prior quarter, a change reflecting both trading and stock price moves. What else to know – Following the sale, Planet Fitness accounted for 3.94% of Sea Cliff’s 13F AUM, moving it outside the fund’s top five holdings. – Top holdings after the filing: – NASDAQ: BTSG: $33.43 million (17.3% of AUM) – NYSE: WCC: $23.59 million (12.2% of AUM) – NYSE: LTH: $17.70 million (9.1% of AUM) – NASDAQ: OKTA: $17.32 million (8.9% of AUM) – NYSE: ITGR: $16.57 million (8.6% of AUM) – – As of May 14, 2026, Planet Fitness shares were priced at $51.50, down 47.4% from a year earlier and well underperforming the S&P 500, which is instead up about 25%.
Company Overview Company Snapshot – Planet Fitness generates revenue through franchising fitness centers, operating corporate-owned gyms, and selling fitness equipment to franchisees. – The business model is based on recurring membership fees, franchise royalties, and equipment sales, providing a stable and diversified income stream. – The primary customers are value-focused fitness consumers and franchise operators across the United States and international markets. Planet Fitness, Inc. operates one of the largest networks of fitness centers, with a focus on accessible, affordable gym memberships and a highly scalable franchise model. The company leverages its strong brand and cost-efficient structure to maintain a broad…