UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Holdings in Planet Fitness, Inc. $PLNT

Key Points

• UBS Asset Management Americas LLC increased its stake in Planet Fitness by 38.3%, holding 401,625 shares valued at $38.8 million after acquiring an additional 111,168 shares in Q1.
• Other institutional investors also raised their positions in Planet Fitness, with notable increases from T. Rowe Price (+6.3%) and Invesco (+358.0%), leading to institutional ownership of approximately 95.53% of the company's stock.
• Planet Fitness reported a Q2 earnings per share (EPS) of $0.86, exceeding estimates, while its revenue rose 13.3% year-over-year to $340.88 million.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 38.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 401,625 shares of the company's stock after purchasing an additional 111,168 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.48% of Planet Fitness worth $38,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brooklyn Investment Group grew its stake in shares of Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company's stock valued at $31,000 after buying an additional 118 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after purchasing an additional 242 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after acquiring an additional 387 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Planet Fitness during the fourth quarter worth about $57,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Planet Fitness during the first quarter worth about $65,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Canaccord Genuity Group restated a "buy" rating and issued a $126.00 target price on shares of Planet Fitness in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of "Moderate Buy" and an average target price of $108.64.

Planet Fitness Stock Performance

Shares of PLNT stock traded up $0.84 during mid-day trading on Friday, hitting $101.12. 1,367,050 shares of the stock were exchanged, compared to its average volume of 1,004,712. The stock's fifty day simple moving average is $106.57 and its two-hundred day simple moving average is $102.40. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 44.94, a P/E/G ratio of 2.23 and a beta of 1.37. Planet Fitness, Inc. has a 12-month low of $77.77 and a 12-month high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The firm had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm's revenue was up 13.3% compared to the same quarter last year. On average, research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness 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.