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

Key Points

• Assenagon Asset Management opened a new stake in Planet Fitness, buying 110,017 shares worth about $11.93 million, and institutions now own roughly 95.53% of the stock.
• Wall Street sentiment is largely positive with a consensus rating of Moderate Buy and a consensus target of $116.93, though analyst price targets vary widely (e.g., Jefferies $175, RBC $120, Wells Fargo $90).
• Planet Fitness beat quarterly estimates (EPS $0.83 vs. $0.79, revenue $376.3M vs. $366.5M), issued FY2026 EPS guidance of 3.350–3.380, yet the stock trades near its 52-week low at about $73.90 with a market cap of ~$5.91B and a P/E of 28.2.

Assenagon Asset Management S.A. bought a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) 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 - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.