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Planet Fitness, Inc. (NYSE:PLNT – Get Rating) was the recipient of unusually large options trading on Thursday. Investors acquired 2,555 put options on the stock. This represents an increase of 94% compared to the average volume of 1,315 put options.

Planet Fitness Stock Up 0.3 %

NYSE:PLNT traded up $0.18 during trading hours on Thursday, reaching $62.24. 2,364 shares of the stock were exchanged, compared to its average volume of 1,105,936. The business has a 50-day moving average of $70.27 and a two-hundred day moving average of $73.39. Planet Fitness has a twelve month low of $54.15 and a twelve month high of $99.60. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 85.01, a PEG ratio of 1.13 and a beta of 1.24.
Planet Fitness (NYSE:PLNT – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The company had revenue of $224.40 million for the quarter, compared to analysts’ expectations of $230.13 million. Planet Fitness had a negative return on equity of 24.38% and a net margin of 8.28%. The firm’s revenue was up 63.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, research analysts forecast that Planet Fitness will post 1.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on PLNT shares. Cowen dropped their price target on Planet Fitness from $110.00 to $95.00 in a research note on Wednesday, August 10th. Cowen decreased their price objective on Planet Fitness from $110.00 to $95.00 in a report on Thursday, August 11th. Exane BNP Paribas raised Planet Fitness from an “underperform” rating to a “neutral” rating in a report on Thursday, July 7th. Morgan Stanley reduced their price target on Planet Fitness from $96.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th. Finally, Raymond James raised Planet Fitness from a “market perform” rating to a “strong-buy” rating and set a $70.00 price target for the company in a report on Monday, September 26th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.64.

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently bought and sold shares of PLNT. National Asset Management Inc. purchased a new position in shares of Planet Fitness during the first quarter worth about $408,000. Tributary Capital Management LLC grew its holdings in shares of Planet Fitness by 16.2% during the first quarter. Tributary Capital Management LLC now owns 26,500 shares of the company’s stock worth $2,239,000 after purchasing an additional 3,700 shares during the last quarter. Swiss National Bank grew its holdings in shares of Planet Fitness by 7.6% during the first quarter. Swiss National Bank now owns 197,085 shares of the company’s stock worth $16,650,000 after purchasing an additional 13,900 shares during the last quarter. Sandy Spring Bank purchased a new position in shares of Planet Fitness during the first quarter worth about $84,000. Finally, Oak Thistle LLC purchased a new position in shares of Planet Fitness during the first quarter worth about $667,000. 95.15% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

(Get Rating)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

Further Reading

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