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

Planet Fitness Inc (NYSE:PLNT) was the target of some unusual options trading on Monday. Traders acquired 12,607 put options on the stock. This is an increase of 526% compared to the average volume of 2,015 put options.

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. purchased a new stake in Planet Fitness during the 4th quarter valued at $30,763,000. Asset Management One Co. Ltd. purchased a new stake in Planet Fitness during the 1st quarter valued at $37,000. Trexquant Investment LP purchased a new stake in Planet Fitness during the 1st quarter valued at $1,304,000. Advisors Asset Management Inc. raised its holdings in Planet Fitness by 12.9% during the 4th quarter. Advisors Asset Management Inc. now owns 19,322 shares of the company’s stock valued at $1,646,000 after buying an additional 2,212 shares during the period. Finally, First Trust Advisors LP raised its holdings in Planet Fitness by 671.2% during the 1st quarter. First Trust Advisors LP now owns 69,813 shares of the company’s stock valued at $3,400,000 after buying an additional 60,761 shares during the period. Institutional investors own 98.19% of the company’s stock.

Shares of PLNT stock opened at $59.52 on Tuesday. Planet Fitness has a 52-week low of $23.77 and a 52-week high of $88.77. The firm has a market capitalization of $5.33 billion, a PE ratio of 50.02, a PEG ratio of 5.57 and a beta of 1.23. The stock has a fifty day simple moving average of $64.42 and a two-hundred day simple moving average of $66.27.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.20). The firm had revenue of $127.23 million for the quarter, compared to analysts’ expectations of $152.61 million. Planet Fitness had a negative return on equity of 23.53% and a net margin of 14.82%. The firm’s revenue was down 14.5% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. Equities analysts anticipate that Planet Fitness will post 0.64 earnings per share for the current fiscal year.

PLNT has been the topic of several research reports. Cowen lifted their price objective on Planet Fitness from $65.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Bank of America reissued a “buy” rating and issued a $88.00 price target on shares of Planet Fitness in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their price target on Planet Fitness from $57.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Robert W. Baird boosted their price target on Planet Fitness from $65.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Finally, William Blair reissued a “buy” rating on shares of Planet Fitness in a research report on Friday, April 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.35.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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