WCM Investment Management LLC Buys New Shares in Planet Fitness, Inc. (NYSE:PLNT)

WCM Investment Management LLC purchased a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 223,609 shares of the company's stock, valued at approximately $22,289,000. WCM Investment Management LLC owned approximately 0.26% of Planet Fitness at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. raised its position in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after acquiring an additional 157 shares during the period. R Squared Ltd bought a new stake in Planet Fitness in the 4th quarter valued at $39,000. V Square Quantitative Management LLC grew its position in shares of 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 purchasing an additional 201 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Planet Fitness by 396.9% in the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company's stock worth $154,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Planet Fitness in the third quarter worth about $200,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Trading Down 1.6 %

Shares of NYSE PLNT traded down $1.70 during trading hours on Wednesday, reaching $101.88. The stock had a trading volume of 1,311,901 shares, compared to its average volume of 1,381,696. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 54.77, a P/E/G ratio of 2.68 and a beta of 1.53. The business's fifty day moving average price is $102.79 and its two-hundred day moving average price is $90.60. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $110.00.

Insider Buying and Selling at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.94% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 target price on shares of Planet Fitness in a report on Wednesday, January 15th. Morgan Stanley upped their price target 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. Piper Sandler increased their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Finally, Robert W. Baird lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.