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

Planet Fitness, Inc. (NYSE:PLNT) was the target of some unusual options trading activity on Thursday. Investors purchased 78,071 call options on the company. This represents an increase of approximately 6,216% compared to the average daily volume of 1,236 call options.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PLNT shares. Stifel Nicolaus upped their target price on shares of Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Macquarie boosted their price target on Planet Fitness from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. raised their price objective on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Finally, Cowen reissued a “buy” rating on shares of Planet Fitness in a report on Friday, November 14th. Two equities 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.67.

Hedge Funds Weigh In On Planet Fitness

A number of institutional investors have recently modified their holdings of PLNT. Game Plan Financial Advisors LLC acquired a new stake in Planet Fitness during the second quarter worth approximately $25,000. Hantz Financial Services Inc. boosted its holdings 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 purchasing an additional 241 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 period. SJS Investment Consulting Inc. grew its position in shares of Planet Fitness by 6,950.0% in the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $44,000 after purchasing an additional 417 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in Planet Fitness in the third quarter valued at $44,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Planet Fitness stock opened at $105.72 on Friday. Planet Fitness has a fifty-two week low of $87.72 and a fifty-two week high of $114.47. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 2.00 and a beta of 1.27. The stock has a fifty day moving average of $106.82 and a two-hundred day moving average of $104.95.

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. The business had revenue of $330.35 million for the quarter, compared to analyst estimates of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. 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 EPS for the current fiscal year.

About Planet Fitness

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.