Assenagon Asset Management S.A. Buys 52,733 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Assenagon Asset Management S.A. increased its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 381.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,545 shares of the company's stock after purchasing an additional 52,733 shares during the period. Assenagon Asset Management S.A. owned 0.08% of Planet Fitness worth $6,429,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PLNT. GAMMA Investing LLC lifted its holdings in Planet Fitness by 7.4% in the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company's stock valued at $217,000 after acquiring an additional 155 shares during the period. Northstar Advisory Group LLC bought a new stake in shares of Planet Fitness in the 1st quarter valued at approximately $1,199,000. Farther Finance Advisors LLC lifted its stake in shares of Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Planet Fitness by 14.2% during the 1st quarter. Park Avenue Securities LLC now owns 5,304 shares of the company's stock worth $512,000 after acquiring an additional 658 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Planet Fitness by 134.1% during the 1st quarter. UMB Bank n.a. now owns 913 shares of the company's stock worth $88,000 after acquiring an additional 523 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLNT. Guggenheim reiterated a "buy" rating and issued a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Macquarie reaffirmed a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. BMO Capital Markets upped their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of "Moderate Buy" and an average price target of $105.76.

Planet Fitness Price Performance

Shares of NYSE PLNT traded down $1.49 during trading hours on Friday, hitting $102.59. 1,051,124 shares of the company's stock were exchanged, compared to its average volume of 1,377,088. Planet Fitness, Inc. has a 1-year low of $68.75 and a 1-year high of $110.00. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 55.16, a PEG ratio of 2.45 and a beta of 1.33. The company's 50-day moving average price is $99.14 and its 200-day moving average price is $99.78.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The company had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. On average, research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share 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.