WCM Investment Management LLC Invests $22.29 Million in Planet Fitness, Inc. (NYSE:PLNT)

WCM Investment Management LLC acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 223,609 shares of the company’s stock, valued at approximately $22,289,000. WCM Investment Management LLC owned about 0.26% of Planet Fitness as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. lifted its holdings in shares of Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares during the period. R Squared Ltd purchased a new stake in Planet Fitness in the 4th quarter valued at approximately $39,000. V Square Quantitative Management LLC increased its position in Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares during the period. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. Finally, Beaumont Financial Advisors LLC acquired a new position in Planet Fitness during the fourth quarter worth $202,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Planet Fitness

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

Planet Fitness Price Performance

Shares of PLNT stock opened at $107.85 on Friday. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $110.00. The firm’s 50-day simple moving average is $102.52 and its 200-day simple moving average is $89.99. The firm has a market cap of $9.12 billion, a P/E ratio of 57.98, a PEG ratio of 2.68 and a beta of 1.53.

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

Analysts Set New Price Targets

PLNT has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Robert W. Baird increased their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Raymond James raised their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their target price on Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Macquarie reissued a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.69.

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.