Stock Traders Purchase Large Volume of Planet Fitness Put Options (NYSE:PLNT)

Posted by Defense World Staff on Apr 13th, 2023

Planet Fitness, Inc. (NYSE:PLNT – Get Rating) was the recipient of unusually large options trading activity on Wednesday. Investors bought 3,025 put options on the stock. This represents an increase of 229% compared to the typical daily volume of 920 put options.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PLNT. BlackRock Inc. grew its holdings in shares of Planet Fitness by 0.9% during the third quarter. BlackRock Inc. now owns 8,723,313 shares of the company’s stock worth $502,985,000 after purchasing an additional 80,705 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Planet Fitness by 6.7% during the third quarter. Alliancebernstein L.P. now owns 3,021,165 shares of the company’s stock worth $174,200,000 after purchasing an additional 190,817 shares during the last quarter. Amundi grew its holdings in shares of Planet Fitness by 12.9% during the fourth quarter. Amundi now owns 2,520,924 shares of the company’s stock worth $212,257,000 after purchasing an additional 288,762 shares during the last quarter. Bares Capital Management Inc. grew its holdings in shares of Planet Fitness by 2.4% during the fourth quarter. Bares Capital Management Inc. now owns 2,063,152 shares of the company’s stock worth $162,576,000 after purchasing an additional 48,955 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Planet Fitness by 36.1% during the fourth quarter. Eagle Asset Management Inc. now owns 2,017,874 shares of the company’s stock worth $157,696,000 after purchasing an additional 534,869 shares during the last quarter. Institutional investors and hedge funds own 94.56% of the company’s stock.

Planet Fitness Stock Down 3.0 %

PLNT stock opened at $76.74 on Thursday. The company has a market cap of $6.86 billion, a PE ratio of 65.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.30. The business has a 50-day simple moving average of $78.55 and a 200 day simple moving average of $74.44. Planet Fitness has a 52 week low of $54.15 and a 52 week high of $88.31.

Planet Fitness (NYSE:PLNT – Get Rating) last issued its earnings results on Thursday, February 23rd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.47 by $0.06. The firm had revenue of $281.30 million during the quarter, compared to the consensus estimate of $271.48 million. Planet Fitness had a negative return on equity of 65.39% and a net margin of 10.61%. The business’s quarterly revenue was up 53.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, analysts anticipate that Planet Fitness will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLNT has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a report on Friday, January 13th. Morgan Stanley lifted their price objective on shares of Planet Fitness from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, February 27th. Raymond James lifted their price objective on shares of Planet Fitness from $92.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 24th. DA Davidson reissued a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Friday, February 24th. Finally, Cowen raised their target price on shares of Planet Fitness from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, February 27th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $91.08.

Planet Fitness Company Profile

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Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.