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

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of some unusual options trading on Wednesday. Traders bought 16,647 call options on the stock. This is an increase of approximately 1,159% compared to the average daily volume of 1,322 call options.

Planet Fitness Stock Up 0.4 %

Planet Fitness stock traded up $0.43 during mid-day trading on Wednesday, hitting $100.23. 181,661 shares of the company’s stock were exchanged, compared to its average volume of 1,429,359. The company’s 50 day simple moving average is $100.89 and its 200-day simple moving average is $94.45. The firm has a market capitalization of $8.49 billion, a P/E ratio of 53.97, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness has a fifty-two week low of $57.64 and a fifty-two week high of $110.00.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC raised its holdings in shares of Planet Fitness by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock worth $457,000 after acquiring an additional 94 shares during the period. M&T Bank Corp increased its holdings in Planet Fitness by 2.6% during the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after purchasing an additional 124 shares in the last quarter. Cetera Trust Company N.A raised its stake in shares of Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after purchasing an additional 135 shares during the period. UMB Bank n.a. raised its stake in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock valued at $1,249,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Guggenheim restated a “buy” rating and issued a $105.00 price objective on shares of Planet Fitness in a research note on Thursday, February 27th. Piper Sandler boosted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Macquarie lowered their price target on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Finally, Canaccord Genuity Group began coverage on Planet Fitness in a report on Thursday, March 13th. They set a “buy” rating and a $120.00 price objective for the company. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $100.17.

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.