Planet Fitness Inc. (NYSE:PLNT – Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 4,627 put options in the company. This represents a 377% increase compared to his average daily volume of 971 put options.
Planet Fitness stock falls 14.7%
NYSE:PLNT fell $8.77 to $51.03 in midday trading Friday. The trading volume of this stock was 5,752,278 shares and its average volume was 1,217,115 shares. The stock has a market capitalization of $4.5 billion, a P/E ratio of 34.56x, a P/E ratio of 0.91x, and a beta of 1.30x. The company’s 50 day simple moving average is $63.16 and its 200 day simple moving average is $69.56. Planet Fitness has a 12-month low of $50.21 and a 12-month high of $85.90.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.11. Planet Fitness had a negative net margin of 12.03% and a negative return on equity of 86.09%. The company had revenue of $286.5 million for the quarter, compared to the consensus estimate of $251.99 million. In the same period last year, the company’s earnings per share were $0.38. The company’s revenue increased by 27.7% compared to the same period last year. Sell-side analysts, on average, expect Planet Fitness to report earnings per share of $2.18 for the current fiscal year.
Analyst rating changes
Recently, many securities companies have influenced PLNT. Royal Bank of Canada lowered their target price on shares of Planet Fitness from $86.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, August 4th. DA Davidson lowered their target price on Planet His Fitness from $67.00 to his $66.00 and set a “neutral” rating on the stock in a research report on Friday, August 4th. Piper Sandler lowered their price target on Planet Fitness from $96.00 to $88.00 in a report on Thursday, June 22nd. TD Cowen lowered their target price on Planet His Fitness from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, August 8th. Finally, StockNews.com began covering his Planet Fitness in an investigative report on Thursday, August 17th. They issued a “hold” rating on the stock. 1 equity research analyst has rated the stock with a sell rating, 2 have issued a hold rating, 11 have issued a buy rating and 1 has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.00.
Check out the latest research report on Planet Fitness.
Planet Fitness Institutional Trading
A number of institutional investors have recently increased or decreased their stakes in the stock. Rockefeller Capital Management LP raised its stake in shares of Planet Fitness by 93.2% during the 4th quarter. Rockefeller Capital Management LP now owns 456 shares of the company’s stock valued at $35,000 after purchasing an additional 220 shares during the last quarter. Quarry LP acquired a new position in Planet Fitness during the 1st quarter valued at approximately $38,000. International Asset Investment Management LLC bought a new stake in shares of Planet Fitness in the 1st quarter valued at approximately $40,000. CWM LLC grew its position in shares of Planet Fitness by 52.9% in the 2nd quarter. CWM LLC now owns 697 shares of the company’s stock valued at $47,000 after purchasing an additional 241 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Planet Fitness during the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.
About Planet Fitness
(Get Free Report)
Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates in three segments: franchises, corporate-owned stores, and facilities. The Franchise segment operates franchise operations in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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