WCM Investment Management LLC Grows Stock Position in Planet Fitness, Inc. $PLNT

Key Points

• WCM Investment Management LLC boosted its Planet Fitness stake by 58.3% in the first quarter, buying 97,697 more shares and bringing its total to 265,134 shares worth about $19.5 million.
• Planet Fitness reported strong quarterly results, with EPS of $0.74 beating estimates and revenue of $337.24 million topping forecasts, while revenue rose 21.9% year over year.
• The stock is facing legal overhang from multiple class-action lawsuit alerts and securities-fraud investigations, even as analysts still rate PLNT a consensus Moderate Buy with a $74.71 price target.

WCM Investment Management LLC increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 58.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 265,134 shares of the company's stock after purchasing an additional 97,697 shares during the quarter. WCM Investment Management LLC owned 0.33% of Planet Fitness worth $19,548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Planet Fitness during the 4th quarter worth approximately $27,000. Clearstead Advisors LLC lifted its holdings in Planet Fitness by 135.9% in the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company's stock valued at $36,000 after acquiring an additional 193 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company's stock worth $36,000 after purchasing an additional 214 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Planet Fitness during the 4th quarter worth $41,000. Finally, Danske Bank A S acquired a new position in shares of Planet Fitness during the 3rd quarter worth $52,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Stock Up 0.0%

PLNT stock opened at $52.38 on Monday. The stock's fifty day simple moving average is $51.75 and its 200-day simple moving average is $72.13. Planet Fitness, Inc. has a 52-week low of $37.03 and a 52-week high of $114.47. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.14 and a beta of 1.04.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. Planet Fitness's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, analysts anticipate that Planet Fitness, Inc. will post 3.18 earnings per share for the current fiscal year.

Planet Fitness News Roundup

Here are the key news stories impacting Planet Fitness this week:

• Neutral Sentiment: Multiple law firms announced or reminded investors about a securities class action against Planet Fitness, with lead-plaintiff deadlines generally set for September 14, 2026. These notices keep the litigation overhang in the spotlight. Article: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Planet Fitness, Inc. and Encourages Investors to Contact the Firm
• Neutral Sentiment: Other firms, including Rosen, Pomerantz, Kirby McInerney, and Robbins, also issued investor alerts about the same class action, suggesting the legal story is broad and still developing. Article: ROSEN, LEADING INVESTOR COUNSEL, Encourages Planet Fitness, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - PLNT
• Neutral Sentiment: Planet Fitness saw unusually heavy call-option activity, with traders buying far more calls than normal, indicating some investors may be positioning for a rebound despite the legal pressure.
• Negative Sentiment: The class action and related securities-fraud investigations could increase legal costs and raise uncertainty around Planet Fitness’ outlook, which may weigh on the stock until there is more clarity on the allegations and potential exposure.

Analysts Set New Price Targets

PLNT has been the subject of a number of research analyst reports. Robert W. Baird set a $80.00 target price on shares of Planet Fitness in a report on Friday, May 8th. KeyCorp dropped their target price on shares of Planet Fitness from $100.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Planet Fitness from $98.00 to $61.00 and set a "hold" rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings downgraded Planet Fitness from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 18th. One 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.71.

Insider Transactions at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at approximately $231,050. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company's stock.

Planet Fitness Company Profile

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.