Fifth Third Bancorp Sells 80,044 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Fifth Third Bancorp decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 54.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,900 shares of the company’s stock after selling 80,044 shares during the period. Fifth Third Bancorp’s holdings in Planet Fitness were worth $6,614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP boosted its holdings in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 318 shares during the last quarter. UMB Bank n.a. boosted its holdings in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares during the last quarter. V Square Quantitative Management LLC grew its position in Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares in the last quarter. GAMMA Investing LLC grew its position in Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Planet Fitness in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLNT shares. JPMorgan Chase & Co. upped their target price on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research report on Wednesday, January 15th. Stifel Nicolaus boosted their price target on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Raymond James raised their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.69.

Planet Fitness Stock Down 0.7 %

Shares of NYSE PLNT opened at $104.79 on Monday. The business has a 50-day simple moving average of $101.03 and a two-hundred day simple moving average of $87.90. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $108.41. The company has a market cap of $8.86 billion, a P/E ratio of 56.34, a P/E/G ratio of 2.63 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.94% of the company’s stock.

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.