United Services Automobile Association Makes New $528,000 Investment in Planet Fitness, Inc. $PLNT

Key Points

• United Services Automobile Association acquired 5,483 shares of Planet Fitness, Inc. valued at approximately $528,000, reflecting increased institutional interest in the stock.
• Research analysts have set a price target for Planet Fitness shares ranging from $120 to $126, with a consensus rating of "Moderate Buy" and an average target price of $108.64.
• Planet Fitness reported earnings per share of $0.86 for the last quarter, exceeding analysts' expectations and marking a 13.3% increase in revenue compared to the same period last year.

United Services Automobile Association acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,483 shares of the company's stock, valued at approximately $528,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLNT. CoreCap Advisors LLC grew its holdings in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Planet Fitness in the fourth quarter worth approximately $57,000. Nomura Holdings Inc. lifted its position in Planet Fitness by 103.4% in the fourth quarter. Nomura Holdings Inc. now owns 11,170 shares of the company's stock worth $1,104,000 after purchasing an additional 340,370 shares during the period. Man Group plc acquired a new stake in Planet Fitness in the fourth quarter worth approximately $9,875,000. Finally, Quantinno Capital Management LP lifted its position in Planet Fitness by 14.3% in the fourth quarter. Quantinno Capital Management LP now owns 31,967 shares of the company's stock worth $3,161,000 after purchasing an additional 3,996 shares during the period. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Down 0.6%

Shares of PLNT traded down $0.62 during mid-day trading on Tuesday, reaching $99.94. The company's stock had a trading volume of 289,871 shares, compared to its average volume of 1,454,488. Planet Fitness, Inc. has a 1 year low of $77.77 and a 1 year high of $114.47. The business has a fifty day moving average of $107.18 and a 200 day moving average of $102.35. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 44.41, a price-to-earnings-growth ratio of 2.26 and a beta of 1.37.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group reiterated a "buy" rating and set a $126.00 price objective on shares of Planet Fitness in a research report on Monday. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of "Moderate Buy" and an average price target of $108.64.

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.