Assenagon Asset Management S.A. Sells 32,116 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Assenagon Asset Management S.A. cut its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 69.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,812 shares of the company's stock after selling 32,116 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Planet Fitness were worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PLNT. Dorsal Capital Management LP grew its holdings in Planet Fitness by 7.7% during the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company's stock worth $213,940,000 after acquiring an additional 207,193 shares during the last quarter. State Street Corp lifted its holdings in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock worth $205,061,000 after purchasing an additional 37,236 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock worth $96,985,000 after purchasing an additional 829,509 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Planet Fitness by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company's stock worth $80,910,000 after purchasing an additional 173,536 shares during the last quarter. Finally, FMR LLC increased its holdings in Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company's stock valued at $64,609,000 after purchasing an additional 691,761 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares of the company's stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.94% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Macquarie reaffirmed a "neutral" rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Piper Sandler lifted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. DA Davidson reissued a "neutral" rating and set a $87.00 target price on shares of Planet Fitness in a research report on Tuesday. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus increased their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $97.69.

Planet Fitness Price Performance

Shares of NYSE:PLNT traded down $0.76 during trading on Friday, reaching $104.79. 1,559,427 shares of the stock were exchanged, compared to its average volume of 1,462,435. The stock has a fifty day moving average of $101.03 and a two-hundred day moving average of $87.68. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $108.41. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 56.34, a price-to-earnings-growth ratio of 2.63 and a beta of 1.52.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same period in the prior year, the firm posted $0.59 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Planet Fitness Company 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.