Planet Fitness Sees Unusually Large Options Volume (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) was the target of some unusual options trading on Wednesday. Stock investors acquired 16,647 call options on the company. This is an increase of 1,159% compared to the average daily volume of 1,322 call options.

Wall Street Analyst Weigh In

PLNT has been the topic of several research reports. Canaccord Genuity Group started coverage on Planet Fitness in a research note on Thursday, March 13th. They set a “buy” rating and a $120.00 target price on the stock. Guggenheim reissued a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th. Macquarie lowered their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.17.

Planet Fitness Price Performance

Planet Fitness stock opened at $99.21 on Friday. The stock has a market cap of $8.40 billion, a PE ratio of 53.34, a P/E/G ratio of 2.45 and a beta of 1.54. The stock’s fifty day moving average is $100.63 and its two-hundred day moving average is $94.53. Planet Fitness has a 1-year low of $57.64 and a 1-year high of $110.00.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. On average, research analysts expect that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

Several institutional investors have recently modified their holdings of PLNT. Corient Private Wealth LLC grew its position in shares of Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock valued at $457,000 after buying an additional 94 shares during the last quarter. M&T Bank Corp boosted its stake in Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after acquiring an additional 124 shares in the last quarter. Cetera Trust Company N.A boosted its stake in Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after acquiring an additional 135 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of 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. Finally, Truist Financial Corp increased its position in shares of Planet Fitness by 1.3% during the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

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.