Fifth Third Bancorp Has $88,000 Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Fifth Third Bancorp lowered its stake in Planet Fitness, Inc. (NYSE:PLNT) by 98.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 915 shares of the company’s stock after selling 65,985 shares during the period. Fifth Third Bancorp’s holdings in Planet Fitness were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLNT. CoreCap Advisors LLC lifted its position in shares of Planet Fitness by 1,250.0% in 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 last quarter. Farther Finance Advisors LLC grew its holdings in Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Planet Fitness during the fourth quarter valued at approximately $51,000. Skandinaviska Enskilda Banken AB publ grew its holdings 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 during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Planet Fitness during the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Down 0.5%

Shares of NYSE:PLNT opened at $107.12 on Friday. Planet Fitness, Inc. has a 12 month low of $68.75 and a 12 month high of $110.00. The company’s 50-day moving average price is $100.31 and its two-hundred day moving average price is $99.99. The firm has a market cap of $9.02 billion, a P/E ratio of 50.53, a P/E/G ratio of 2.39 and a beta of 1.33.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates 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 88.70% and a net margin of 14.84%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. As a group, equities analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, June 12th. BMO Capital Markets lifted their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. Finally, Roth Mkm restated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Three 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, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.76.

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.