Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 69.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares during the last quarter. V Square Quantitative Management LLC raised its stake in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Planet Fitness by 396.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after buying an additional 1,516 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Planet Fitness in the 2nd quarter worth approximately $200,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Planet Fitness in the 3rd quarter valued at approximately $200,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Down 0.9 %

Shares of NYSE PLNT opened at $105.53 on Friday. The stock has a market cap of $8.93 billion, a P/E ratio of 56.74, a P/E/G ratio of 2.67 and a beta of 1.52. The firm’s 50-day simple moving average is $100.84 and its 200 day simple moving average is $87.46. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $108.41.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on PLNT. DA Davidson reaffirmed a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target for the company. Piper Sandler increased their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley lifted their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Raymond James increased their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $97.69.

Insiders Place Their Bets

In related news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.94% of the stock is currently owned by insiders.

About Planet Fitness

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.