Fifth Third Bancorp Lowers Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Fifth Third Bancorp decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 98.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 915 shares of the company's stock after selling 65,985 shares during the quarter. Fifth Third Bancorp's holdings in Planet Fitness were worth $88,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLNT. CoreCap Advisors LLC lifted its holdings in Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares during the period. Farther Finance Advisors LLC raised its position in shares of Planet Fitness by 291.0% in the 1st 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. Proficio Capital Partners LLC purchased a new stake in shares of Planet Fitness during the 4th quarter worth $51,000. Skandinaviska Enskilda Banken AB publ boosted its position in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Planet Fitness in the fourth quarter valued at about $57,000. Institutional investors own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Roth Mkm reissued a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Macquarie reiterated a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.76.

Planet Fitness Stock Down 0.8%

Shares of NYSE PLNT traded down $0.89 during trading on Tuesday, hitting $107.93. The company had a trading volume of 1,302,533 shares, compared to its average volume of 1,383,567. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 2.38 and a beta of 1.33. Planet Fitness, Inc. has a fifty-two week low of $68.75 and a fifty-two week high of $110.83. The stock has a fifty day simple moving average of $100.54 and a two-hundred day simple moving average of $100.06.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. Planet Fitness's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. On average, analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share 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.