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

Planet Fitness, Inc. (NYSE:PLNT) saw unusually large options trading on Thursday. Stock investors acquired 78,071 call options on the stock. This represents an increase of approximately 6,216% compared to the average volume of 1,236 call options.

Institutional Trading of Planet Fitness

Several institutional investors and hedge funds have recently bought and sold shares of PLNT. Game Plan Financial Advisors LLC purchased a new position in Planet Fitness during the 2nd quarter worth $25,000. Hantz Financial Services Inc. boosted its stake in shares of Planet Fitness by 964.0% during the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after buying an additional 241 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after buying an additional 214 shares during the period. SJS Investment Consulting Inc. grew its holdings in shares of Planet Fitness by 6,950.0% during the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after buying an additional 417 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Planet Fitness in a research note on Tuesday, December 9th. Morgan Stanley raised their target price on shares of Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Stifel Nicolaus lifted their price target on shares of Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Finally, UBS Group reissued a “buy” rating on shares of Planet Fitness in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus price target of $119.67.

Planet Fitness Trading Up 1.0%

Shares of Planet Fitness stock opened at $106.78 on Friday. The company has a fifty day simple moving average of $107.14 and a 200-day simple moving average of $104.93. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 2.02 and a beta of 1.27. Planet Fitness has a 12-month low of $87.72 and a 12-month high of $114.47.

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

Planet Fitness Company Profile

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.