Assenagon Asset Management S.A. Has $3.73 Million Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Assenagon Asset Management S.A. lifted its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 202.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,928 shares of the company's stock after acquiring an additional 30,736 shares during the period. Assenagon Asset Management S.A. owned approximately 0.05% of Planet Fitness worth $3,730,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PLNT. William Blair Investment Management LLC acquired a new stake in Planet Fitness during the 2nd quarter worth approximately $166,978,000. Anomaly Capital Management LP acquired a new stake in Planet Fitness during the 2nd quarter worth approximately $106,795,000. Point72 Asset Management L.P. raised its holdings in Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock worth $96,985,000 after buying an additional 829,509 shares during the period. Steadfast Capital Management LP raised its holdings in Planet Fitness by 97.7% during the 1st quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company's stock worth $86,546,000 after buying an additional 682,863 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Planet Fitness by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company's stock worth $116,453,000 after buying an additional 483,586 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLNT. BNP Paribas upgraded shares of Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 target price on the stock in a report on Thursday, September 5th. Morgan Stanley raised their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a report on Tuesday. Piper Sandler raised their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a research note on Friday, September 27th. They set a "hold" rating and a $71.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and a consensus target price of $85.93.

Planet Fitness Stock Performance

NYSE:PLNT traded up $0.04 during mid-day trading on Thursday, hitting $78.54. 728,208 shares of the stock were exchanged, compared to its average volume of 1,537,232. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 45.32, a price-to-earnings-growth ratio of 2.74 and a beta of 1.49. The firm's 50-day simple moving average is $81.32 and its 200 day simple moving average is $73.69. Planet Fitness, Inc. has a fifty-two week low of $53.31 and a fifty-two week high of $85.08.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The business had revenue of $300.94 million during the quarter, compared to analysts' expectations of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. On average, analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, CAO Brian O'donnell sold 6,424 shares of Planet Fitness stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the transaction, the chief accounting officer now directly owns 6,778 shares of the company's stock, valued at $524,549.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.94% of the company's stock.

Planet Fitness Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.