Assenagon Asset Management S.A. Acquires Shares of 851,039 Planet Fitness, Inc. $PLNT

Key Points

• Assenagon Asset Management acquired 851,039 Planet Fitness shares worth approximately $44.4 million, representing about 1.07% of the company. Institutional investors collectively own 95.53% of PLNT.
• Planet Fitness beat second-quarter expectations with adjusted EPS of $0.88 and revenue of $365.2 million, up 7.1% year over year. Management also raised its 2026 EPS outlook to approximately $3.254 and repurchased about $200 million of Class A stock.
• Despite the strong earnings, same-club sales grew only 1.7%, while analyst price targets have been reduced and a securities class-action lawsuit poses additional sentiment and legal risks. Analysts maintain a “Moderate Buy” consensus with a $70.03 target price.

Assenagon Asset Management S.A. bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 851,039 shares of the company's stock, valued at approximately $44,399,000. Assenagon Asset Management S.A. owned approximately 1.07% of Planet Fitness as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in Planet Fitness by 285.9% during the second quarter. Versant Capital Management Inc now owns 494 shares of the company's stock worth $26,000 after acquiring an additional 366 shares during the period. V Square Quantitative Management LLC bought a new position in Planet Fitness in the 4th quarter valued at $27,000. Clearstead Advisors LLC increased its position in shares of Planet Fitness by 135.9% during the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock valued at $36,000 after purchasing an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after buying an additional 214 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Planet Fitness in the 4th quarter worth about $41,000. 95.53% of the stock is owned by institutional investors.

Key Headlines Impacting Planet Fitness

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Planet Fitness exceeded expectations in the second quarter, reporting adjusted EPS of $0.88 versus the $0.85 consensus estimate and revenue of $365.2 million versus estimates of $356.2 million. Revenue increased 7.1% year over year. Planet Fitness Beats Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management repurchased and retired approximately $200 million of Class A stock during the quarter, while raising its full-year 2026 EPS outlook to approximately $3.254, above the roughly $3.20 analyst consensus. The company continues to target 180–190 new club openings. Planet Fitness Announces Second Quarter 2026 Results
• Neutral Sentiment: Analyst coverage highlighted pricing tests, marketing changes and a strategic shift intended to support growth. However, system-wide same-club sales rose only 1.7%, suggesting that the benefits of these initiatives have not yet fully offset softer member growth. PLNT Q2 Deep Dive
• Negative Sentiment: Several law firms publicized a previously filed securities class-action lawsuit against Planet Fitness and certain executives. The complaints allege that the company failed to disclose risks related to its marketing strategy and market conditions before a May 2026 guidance revision. The allegations have not been proven, but the repeated notices may pressure sentiment and create potential legal costs or liabilities. The lead-plaintiff deadline is September 14, 2026. Planet Fitness Securities Class Action Announcement

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $50.04 on Friday. The stock has a market cap of $3.98 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.03. Planet Fitness, Inc. has a fifty-two week low of $37.03 and a fifty-two week high of $114.26. The stock has a fifty day moving average of $52.68 and a 200-day moving average of $67.15.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.03. The company had revenue of $365.22 million for the quarter, compared to analyst estimates of $356.21 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, sell-side analysts predict that Planet Fitness, Inc. will post 3.24 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Roth Capital decreased their price objective on shares of Planet Fitness from $109.00 to $64.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Zacks Research raised shares of Planet Fitness from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. Cantor Fitzgerald set a $62.00 price target on shares of Planet Fitness in a research note on Thursday, July 9th. Bank of America reaffirmed a "neutral" rating and issued a $59.00 price target (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. Finally, Weiss Ratings downgraded Planet Fitness from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.03.

Planet Fitness Profile

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.

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