Assenagon Asset Management S.A. Invests $11.93 Million in Planet Fitness, Inc. $PLNT

Assenagon Asset Management S.A. bought a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 110,017 shares of the company’s stock, valued at approximately $11,934,000. Assenagon Asset Management S.A. owned 0.13% of Planet Fitness at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Inceptionr LLC purchased a new stake in shares of Planet Fitness during the 2nd quarter worth about $356,000. Citigroup Inc. raised its holdings in Planet Fitness by 101.0% in the 3rd quarter. Citigroup Inc. now owns 29,461 shares of the company’s stock worth $3,058,000 after purchasing an additional 14,805 shares during the period. Federated Hermes Inc. raised its holdings in Planet Fitness by 21.0% in the 3rd quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock worth $78,170,000 after purchasing an additional 130,687 shares during the period. Pelham Capital Ltd. purchased a new position in Planet Fitness during the third quarter worth approximately $12,841,000. Finally, Triodos Investment Management BV boosted its position in Planet Fitness by 16.0% during the third quarter. Triodos Investment Management BV now owns 297,000 shares of the company’s stock worth $30,829,000 after purchasing an additional 41,000 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLNT. William Blair restated an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Wells Fargo & Company began coverage on Planet Fitness in a research report on Wednesday, March 11th. They set an “overweight” rating and a $90.00 target price on the stock. TD Cowen reissued a “buy” rating on shares of Planet Fitness in a research note on Tuesday, March 10th. Royal Bank Of Canada cut their price target on shares of Planet Fitness from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, Jefferies Financial Group restated a “buy” rating and set a $175.00 price objective on shares of Planet Fitness in a research report on Tuesday, February 24th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.93.

Planet Fitness Stock Down 2.0%

Shares of PLNT stock opened at $73.90 on Friday. The firm has a 50 day moving average of $85.39 and a two-hundred day moving average of $96.90. The stock has a market capitalization of $5.91 billion, a PE ratio of 28.20, a P/E/G ratio of 1.31 and a beta of 1.25. Planet Fitness, Inc. has a 52 week low of $73.01 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Planet Fitness had a negative return on equity of 97.97% and a net margin of 16.55%.The business had revenue of $376.26 million for the quarter, compared to analyst estimates of $366.48 million. During the same quarter in the prior year, the company earned $0.70 earnings per share. The company’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. Analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

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.