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

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of some unusual options trading activity on Monday. Traders bought 2,256 put options on the company. This is an increase of 93% compared to the average volume of 1,171 put options.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PLNT shares. Stifel Nicolaus upped their price objective on shares of Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Macquarie boosted their target price on Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Royal Bank Of Canada restated an “outperform” rating and set a $135.00 price target on shares of Planet Fitness in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.92.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently added to or reduced their stakes in PLNT. Game Plan Financial Advisors LLC acquired a new position in shares of Planet Fitness in the second quarter worth $25,000. Hantz Financial Services Inc. increased its position in Planet Fitness by 964.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in Planet Fitness by 6,950.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $44,000 after purchasing an additional 417 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Planet Fitness in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of PLNT stock traded down $4.71 during midday trading on Monday, hitting $105.02. The company had a trading volume of 770,912 shares, compared to its average volume of 746,266. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 42.78, a PEG ratio of 2.10 and a beta of 1.27. The company’s 50 day simple moving average is $105.83 and its 200 day simple moving average is $104.97. Planet Fitness has a 52-week low of $87.72 and a 52-week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.08. The firm had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Analysts anticipate that Planet Fitness will post 2.51 EPS for the current year.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.