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

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 16,647 call options on the company. This is an increase of 1,159% compared to the typical volume of 1,322 call options.

Institutional Investors Weigh In On Planet Fitness

Several hedge funds have recently made changes to their positions in PLNT. Vanguard Group Inc. raised its stake in Planet Fitness by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock valued at $794,496,000 after purchasing an additional 39,928 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Planet Fitness by 48.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock valued at $782,169,000 after buying an additional 2,570,826 shares during the period. JPMorgan Chase & Co. lifted its stake in Planet Fitness by 1.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock worth $356,841,000 after acquiring an additional 36,803 shares in the last quarter. State Street Corp boosted its position in Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company's stock worth $205,061,000 after acquiring an additional 37,236 shares during the period. Finally, Anomaly Capital Management LP grew its stake in Planet Fitness by 20.3% during the 4th quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after acquiring an additional 299,148 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

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Analyst Upgrades and Downgrades

PLNT has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price objective for the company. Macquarie decreased their target price 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. Piper Sandler lifted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, Guggenheim reiterated a "buy" rating and issued a $105.00 price target on shares of Planet Fitness in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.17.

Planet Fitness Trading Down 3.0 %

PLNT stock traded down $3.02 on Friday, hitting $96.18. 957,066 shares of the company's stock traded hands, compared to its average volume of 1,458,929. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 51.71, a P/E/G ratio of 2.45 and a beta of 1.54. Planet Fitness has a 1-year low of $57.64 and a 1-year high of $110.00. The stock has a fifty day moving average of $100.46 and a 200-day moving average of $94.73.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $324.57 million. During the same period in the previous year, the firm earned $0.60 earnings per share. Planet Fitness's revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts anticipate that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

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.