Planet Fitness, Inc. (NYSE:PLNT) Stock Holdings Lowered by Bank of America Corp DE

Bank of America Corp DE decreased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 362,527 shares of the company's stock after selling 68,014 shares during the period. Bank of America Corp DE owned approximately 0.43% of Planet Fitness worth $35,843,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Planet Fitness in the fourth quarter worth approximately $39,000. UMB Bank n.a. increased its stake in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after buying an additional 157 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Planet Fitness during the 4th quarter valued at approximately $51,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new position in shares of Planet Fitness during the fourth quarter valued at about $202,000. 95.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PLNT shares. DA Davidson reissued a "neutral" rating and issued a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. BMO Capital Markets raised their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Guggenheim reaffirmed a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Finally, Canaccord Genuity Group began coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.00.

Planet Fitness Trading Up 3.6%

PLNT stock traded up $3.58 during trading on Monday, reaching $102.44. The stock had a trading volume of 1,275,432 shares, compared to its average volume of 1,402,648. The firm has a fifty day moving average price of $96.47 and a 200 day moving average price of $98.46. The company has a market capitalization of $8.62 billion, a P/E ratio of 55.08, a PEG ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a 1-year low of $60.56 and a 1-year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). The company had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. Sell-side analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Planet Fitness Company 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.