Planet Fitness, Inc. $PLNT Shares Bought by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. lifted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 9.4% during the third quarter, Holdings Channel reports. The firm owned 1,379,902 shares of the company’s stock after purchasing an additional 118,054 shares during the quarter. Planet Fitness makes up approximately 2.1% of Van Berkom & Associates Inc.’s portfolio, making the stock its 29th largest holding. Van Berkom & Associates Inc.’s holdings in Planet Fitness were worth $58,259,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Planet Fitness by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,238,129 shares of the company’s stock worth $92,091,000 after buying an additional 21,914 shares during the period. Bank of America Corp DE lifted its stake in Planet Fitness by 7.2% during the first quarter. Bank of America Corp DE now owns 779,251 shares of the company’s stock valued at $57,961,000 after buying an additional 52,289 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Planet Fitness by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 732,411 shares of the company’s stock valued at $54,477,000 after buying an additional 13,089 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Planet Fitness during the second quarter valued at about $44,399,000. Finally, WCM Investment Management LLC boosted its holdings in shares of Planet Fitness by 58.3% in the first quarter. WCM Investment Management LLC now owns 265,134 shares of the company’s stock worth $19,548,000 after buying an additional 97,697 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Planet Fitness

In other Planet Fitness news, 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 transaction of $358,540.00. Following the completion of the sale, the chief operating officer directly owned 32,939 shares in the company, valued at approximately $1,687,135.58. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christopher Tanco bought 2,328 shares of the stock in a transaction on Monday, September 14th. The shares were acquired at an average cost of $51.23 per share, for a total transaction of $119,263.44. Following the purchase, the director owned 2,328 shares in the company, valued at approximately $119,263.44. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLNT shares. Raymond James Financial reissued a “strong-buy” rating and issued a $72.00 target price on shares of Planet Fitness in a research report on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of Planet Fitness in a report on Monday, September 14th. Canaccord Genuity Group upped their price target on shares of Planet Fitness from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, July 20th. TD Cowen upped their price target on shares of Planet Fitness from $54.00 to $61.00 and gave the company a “hold” rating in a research report on Monday. Finally, Royal Bank Of Canada raised their price objective on shares of Planet Fitness from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.87.

Planet Fitness Trading Up 1.3%

Shares of PLNT stock opened at $61.08 on Tuesday. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.26. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 1.23 and a beta of 1.02. The stock’s fifty day simple moving average is $49.37 and its 200-day simple moving average is $61.16.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The firm had revenue of $359.98 million for the quarter, compared to analyst estimates of $348.34 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%. Planet Fitness’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. On average, sell-side analysts predict that Planet Fitness, Inc. will post 3.26 EPS for the current year.

About Planet Fitness

Planet Fitness, Inc is a fitness club franchisor and operator known for its low-cost membership model and “Judgement Free Zone” approach. Its clubs offer cardio and strength-training equipment, along with access to fitness training and other member services.

Founded in 1992, the company began franchising its clubs in 2003. Planet Fitness serves members primarily in the United States, as well as in several international markets, including Canada, Mexico and Australia.

Planet Fitness is headquartered in Hampton, New Hampshire.