Investors Purchase Large Volume of Call Options on Planet Fitness (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) saw some unusual options trading on Tuesday. Investors acquired 10,338 call options on the stock. This represents an increase of 154% compared to the typical volume of 4,075 call options.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several recent research reports. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $92.00 in a report on Monday. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $78.00 in a research note on Tuesday, May 14th. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and lowered their price target for the stock from $80.00 to $70.00 in a research report on Friday, May 10th. Raymond James raised their price objective on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.

Planet Fitness Trading Up 0.2 %

NYSE PLNT traded up $0.17 on Tuesday, reaching $73.19. 397,959 shares of the company were exchanged, compared to its average volume of 1,715,839. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $75.86. The stock has a market capitalization of $6.45 billion, a P/E ratio of 41.96, a price-to-earnings-growth ratio of 2.44 and a beta of 1.43. The business’s fifty day moving average price is $64.65 and its 200 day moving average price is $66.37.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $249.48 million. During the same quarter in the previous year, the company posted $0.41 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Planet Fitness will post 2.43 earnings per share for the current year.

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently made changes to their positions in PLNT. Allworth Financial LP grew its position in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Planet Fitness in the 1st quarter valued at $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness during the 4th quarter worth $47,000. Covestor Ltd increased its position in shares of Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after purchasing an additional 238 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares during the period. Institutional investors and hedge funds 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.