Small Hedge Fund Takes New Stake in Planet Fitness as Shares Dive

Torque Asset Management bought 49,500 Planet Fitness shares, a purchase that highlights selective buying while the chain faces weakening member growth and pulled guidance.

Overview

Torque Asset Management disclosed a new position of 49,500 Planet Fitness shares in a March-quarter SEC 13F filing, with the trade’s estimated transaction value at about $4.35 million.
The position was worth roughly $3.68 million at quarter-end and represented 1.45% of Torque’s 13F assets under management.
Planet Fitness shares have lost more than half their value in 2026 as the company delayed a planned premium Black Card price increase, raised its basic fee from $10 to $15, and reported weaker new-member sign-ups.
The company pulled its three-year sales growth guidance after Q1 results, even as trailing-12-month revenue was $1.38 billion and net income was $228.79 million.
Torque’s buy sits alongside large stakes in Amazon, Meta, Okta, Procore and Mastercard and may signal opportunistic buying by some funds, but Planet Fitness’s recovery will hinge on stabilizing pricing, marketing and member growth.