Traders Buy Large Volume of Planet Fitness Call Options (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT) was the target of unusually large options trading activity on Wednesday. Investors bought 16,647 call options on the stock. This represents an increase of approximately 1,159% compared to the average daily volume of 1,322 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. raised its stake in shares of Planet Fitness by 67.4% during 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. R Squared Ltd purchased a new position in Planet Fitness during the 4th quarter valued at about $39,000. CoreCap Advisors LLC increased its position in shares of Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after buying an additional 450 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after buying an additional 490 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Planet Fitness in the fourth quarter valued at approximately $57,000. 95.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PLNT. Piper Sandler lifted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Macquarie dropped their price target on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. DA Davidson reiterated a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.17.

Planet Fitness Stock Up 0.4 %

NYSE PLNT traded up $0.43 on Wednesday, reaching $100.23. The company had a trading volume of 181,661 shares, compared to its average volume of 1,429,359. The stock has a market capitalization of $8.49 billion, a P/E ratio of 53.97, a P/E/G ratio of 2.45 and a beta of 1.54. The company’s fifty day moving average is $100.89 and its 200 day moving average is $94.45. Planet Fitness has a 52-week low of $57.64 and a 52-week high of $110.00.

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