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

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of some unusual options trading on Monday. Stock investors acquired 7,472 call options on the company. This is an increase of approximately 106% compared to the typical daily volume of 3,631 call options.

Planet Fitness Stock Performance

Shares of PLNT stock traded up $0.23 during mid-day trading on Monday, hitting $60.50. The company’s stock had a trading volume of 339,747 shares, compared to its average volume of 1,649,779. Planet Fitness has a 52-week low of $44.13 and a 52-week high of $84.48. The business has a 50-day moving average price of $62.02 and a 200 day moving average price of $64.89. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 37.20, a PEG ratio of 1.96 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. Equities research analysts predict that Planet Fitness will post 2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Planet Fitness during the 4th quarter worth $47,000. CWM LLC boosted its position in Planet Fitness by 109.5% during the 3rd quarter. CWM LLC now owns 1,460 shares of the company’s stock valued at $72,000 after acquiring an additional 763 shares in the last quarter. Covestor Ltd boosted its position in Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after acquiring an additional 238 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PLNT has been the subject of several research analyst reports. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price target on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Stifel Nicolaus lowered their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Morgan Stanley reissued an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a research report on Monday, April 1st. Finally, DA Davidson reissued a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

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.