Traders Purchase High Volume of Put Options on Planet Fitness (NYSE:PLNT)

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 8,271 put options on the company. This represents an increase of 197% compared to the average volume of 2,781 put options.

Planet Fitness Price Performance

Shares of PLNT stock traded down $3.23 during trading hours on Tuesday, hitting $56.48. The stock had a trading volume of 6,399,399 shares, compared to its average volume of 1,540,335. Planet Fitness has a one year low of $44.13 and a one year high of $84.48. The stock's 50-day moving average price is $67.65 and its two-hundred day moving average price is $63.00. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 1.21 and a beta of 1.40.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The firm had revenue of $285.10 million for the quarter, compared to analysts' expectations of $282.35 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The business's revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Planet Fitness will post 2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Several large investors have recently added to or reduced their stakes in PLNT. Asset Management One Co. Ltd. boosted its position in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company's stock valued at $73,000 after buying an additional 148 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company's stock valued at $112,000 after buying an additional 157 shares during the period. Amalgamated Bank boosted its position in shares of Planet Fitness by 0.3% during the fourth quarter. Amalgamated Bank now owns 57,570 shares of the company's stock valued at $4,203,000 after buying an additional 179 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Planet Fitness by 2.8% during the fourth quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company's stock valued at $494,000 after buying an additional 182 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of Planet Fitness by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company's stock valued at $1,841,000 after buying an additional 190 shares during the period. 95.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com upgraded Planet Fitness from a "sell" rating to a "hold" rating in a research report on Friday, January 12th. Stifel Nicolaus lowered their target price on Planet Fitness from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 23rd. Royal Bank of Canada lifted their target price on Planet Fitness from $74.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday, March 5th. DA Davidson reiterated a "neutral" rating and set a $62.00 target price on shares of Planet Fitness in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a research report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $71.00.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.