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

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of unusually large options trading on Thursday. Investors acquired 78,071 call options on the company. This is an increase of approximately 6,216% compared to the average volume of 1,236 call options.

Planet Fitness Trading Up 1.1%

Shares of NYSE PLNT traded up $1.16 during trading on Thursday, reaching $105.56. The company had a trading volume of 653,839 shares, compared to its average volume of 1,564,217. Planet Fitness has a twelve month low of $87.72 and a twelve month high of $114.47. The stock has a market capitalization of $8.79 billion, a PE ratio of 43.09, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The stock has a 50-day moving average price of $106.50 and a two-hundred day moving average price of $104.94.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business had revenue of $330.35 million for the quarter, compared to analyst estimates of $323.95 million. During the same quarter last year, the company earned $0.64 earnings per share. The business’s revenue for the quarter 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, sell-side analysts predict that Planet Fitness will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

PLNT has been the topic of several research analyst reports. Canaccord Genuity Group boosted their target price on shares of Planet Fitness from $130.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Stifel Nicolaus boosted their price objective on shares of Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 14th. JPMorgan Chase & Co. increased their target price on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Morgan Stanley lifted their price target on shares of Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Finally, Macquarie upped their price target on Planet Fitness from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Institutional Trading of Planet Fitness

A number of hedge funds have recently bought and sold shares of the company. Game Plan Financial Advisors LLC acquired a new position in Planet Fitness in the 2nd quarter valued at $25,000. Hantz Financial Services Inc. grew its position in shares of Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after purchasing an additional 241 shares during the period. EverSource Wealth Advisors LLC increased its stake in Planet Fitness by 184.5% in the second 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. lifted its position in 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 period. Finally, Atlantic Union Bankshares Corp purchased a new position in Planet Fitness during the third quarter worth about $44,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.