United Services Automobile Association Makes New 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) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,483 shares of the company's stock, valued at approximately $528,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group lifted its position in shares of Planet Fitness by 57.8% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after purchasing an additional 118 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after acquiring an additional 242 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after acquiring an additional 450 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Planet Fitness by 291.0% during the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after acquiring an additional 387 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Planet Fitness in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Ratings Changes

PLNT has been the topic of several recent analyst reports. Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $108.64.

Planet Fitness Price Performance

Shares of NYSE PLNT traded down $1.53 during midday trading on Friday, reaching $101.90. 813,599 shares of the stock were exchanged, compared to its average volume of 978,680. Planet Fitness, Inc. has a 12 month low of $77.77 and a 12 month high of $114.47. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 45.29, a P/E/G ratio of 2.30 and a beta of 1.37. The business has a 50-day simple moving average of $107.31 and a two-hundred day simple moving average of $102.22.

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

About Planet Fitness

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.