Planet Fitness, Inc. $PLNT Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Planet Fitness stake by 22.6%, selling 192,055 shares and retaining 658,984 shares worth approximately $27.8 million. Institutional investors collectively own 95.53% of the company.
• Planet Fitness reported quarterly EPS of $0.88, beating estimates by $0.03, while revenue rose 7.1% year over year to $365.22 million. The stock opened at $50.76, below its 52-week high of $114.26.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $69.34; meanwhile, a company director bought 10,000 shares, while the COO sold 7,000 shares.

Assenagon Asset Management S.A. cut its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 22.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 658,984 shares of the company's stock after selling 192,055 shares during the quarter. Assenagon Asset Management S.A. owned 0.87% of Planet Fitness worth $27,822,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc increased its position in shares of Planet Fitness by 285.9% in the second quarter. Versant Capital Management Inc now owns 494 shares of the company's stock worth $26,000 after purchasing an additional 366 shares during the period. SHP Wealth Management acquired a new position in shares of Planet Fitness in the 4th quarter valued at approximately $71,000. Fortitude Family Office LLC acquired a new position in shares of Planet Fitness in the 3rd quarter valued at approximately $32,000. Mather Group LLC. lifted its holdings in shares of Planet Fitness by 163.3% during the 3rd quarter. Mather Group LLC. now owns 790 shares of the company's stock worth $33,000 after acquiring an additional 490 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Planet Fitness by 142.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 985 shares of the company's stock worth $73,000 after acquiring an additional 579 shares during the period. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

Planet Fitness stock opened at $50.76 on Monday. The business has a 50 day moving average of $48.35 and a 200-day moving average of $54.06. The company has a market capitalization of $3.83 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.10 and a beta of 1.05. Planet Fitness, Inc. has a 1 year low of $37.03 and a 1 year high of $114.26.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.85 by $0.03. The business had revenue of $365.22 million for the quarter, compared to the consensus estimate of $356.21 million. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. Equities analysts anticipate that Planet Fitness, Inc. will post 3.21 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on PLNT. KeyCorp restated an "overweight" rating on shares of Planet Fitness in a research report on Tuesday, October 13th. Jefferies Financial Group set a $106.00 target price on Planet Fitness in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Planet Fitness from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Zacks Research upgraded Planet Fitness from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $62.00 price target on shares of Planet Fitness in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Planet Fitness currently has an average rating of "Moderate Buy" and an average price target of $69.34.

Insider Buying and Selling at Planet Fitness

In related news, Director Stephen Spinelli, Jr. purchased 10,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $49.28 per share, with a total value of $492,800.00. Following the completion of the purchase, the director owned 45,516 shares in the company, valued at approximately $2,243,028.48. This represents a 28.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, COO William Bode sold 7,000 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $51.22, for a total value of $358,540.00. Following the transaction, the chief operating officer owned 32,939 shares of the company's stock, valued at $1,687,135.58. This trade represents a 17.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.90% of the company's stock.

About Planet Fitness

Planet Fitness, Inc NYSE: PLNT is a fitness center franchisor and operator known for its “Judgement Free Zone” brand. The company provides affordable, no-commitment gym memberships designed to appeal to a broad range of consumers, including first-time and casual gym users.

Planet Fitness clubs typically offer cardiovascular and strength-training equipment, free weights, locker rooms, fitness training and other member amenities. The company also provides digital fitness content and tools through its mobile app and online platforms.

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