Allianz Asset Management GmbH Acquires 10,050 Shares of Planet Fitness, Inc. $PLNT

Allianz Asset Management GmbH grew its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 117.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,614 shares of the company’s stock after acquiring an additional 10,050 shares during the period. Allianz Asset Management GmbH’s holdings in Planet Fitness were worth $1,932,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new stake in shares of Planet Fitness during the 3rd quarter valued at $44,000. AlphaQuest LLC boosted its stake in Planet Fitness by 33.1% in the 3rd quarter. AlphaQuest LLC now owns 7,048 shares of the company’s stock worth $732,000 after purchasing an additional 1,752 shares during the period. Arizona State Retirement System grew its holdings in Planet Fitness by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 24,812 shares of the company’s stock valued at $2,575,000 after buying an additional 286 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in Planet Fitness by 11.1% during the 3rd quarter. AustralianSuper Pty Ltd now owns 422,001 shares of the company’s stock valued at $43,804,000 after buying an additional 42,103 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Planet Fitness by 21.0% during the third quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after buying an additional 130,687 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Trading Down 3.9%

NYSE PLNT opened at $88.51 on Friday. The firm has a market cap of $7.37 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Planet Fitness, Inc. has a 1-year low of $87.44 and a 1-year high of $114.47. The stock has a 50-day moving average of $101.82 and a 200-day moving average of $102.45.

Analyst Ratings Changes

A number of research firms have recently commented on PLNT. JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley increased their target price on shares of Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. William Blair reissued an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. Stifel Nicolaus boosted their price target on shares of Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of “Buy” and a consensus target price of $122.27.

About Planet Fitness

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.