Planet Fitness Target of Unusually Large Options Trading (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 10,338 call options on the company. This is an increase of 154% compared to the average volume of 4,075 call options.

Planet Fitness Price Performance

PLNT traded up $0.17 during midday trading on Tuesday, reaching $73.19. 397,959 shares of the company’s stock traded hands, compared to its average volume of 1,715,839. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 41.96, a P/E/G ratio of 2.44 and a beta of 1.43. The firm has a fifty day moving average of $64.65 and a two-hundred day moving average of $66.37. Planet Fitness has a 52 week low of $44.13 and a 52 week high of $75.86.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $248.00 million for the quarter, compared to the consensus estimate of $249.48 million. During the same period in the previous year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that Planet Fitness will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG boosted its position in shares of Planet Fitness by 1,356.5% during the third quarter. UBS Group AG now owns 107,492 shares of the company’s stock valued at $5,286,000 after purchasing an additional 100,112 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Planet Fitness during the third quarter worth about $490,000. Brandywine Global Investment Management LLC bought a new position in shares of Planet Fitness during the third quarter valued at approximately $1,385,000. Dark Forest Capital Management LP grew its stake in shares of Planet Fitness by 107.5% in the 3rd quarter. Dark Forest Capital Management LP now owns 13,834 shares of the company’s stock worth $680,000 after buying an additional 7,167 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of Planet Fitness by 7.9% during the third quarter. Mariner LLC now owns 34,633 shares of the company’s stock valued at $1,703,000 after acquiring an additional 2,537 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $68.00 to $78.00 in a research report on Tuesday, May 14th. Stifel Nicolaus lowered Planet Fitness from a “buy” rating to a “hold” rating and reduced their price objective for the company from $80.00 to $70.00 in a research report on Friday, May 10th. Royal Bank of Canada dropped their target price on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $92.00 in a report on Monday. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.

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.