Planet Fitness Inc (NYSE:PLNT) was the target of unusually large options trading on Monday. Traders acquired 4,677 put options on the stock. This is an increase of approximately 1,164% compared to the average daily volume of 370 put options.
Several equities analysts have commented on PLNT shares. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Planet Fitness in a report on Monday, December 18th. Cowen upped their price target on Planet Fitness from $30.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, January 10th. Bank of America upped their price target on Planet Fitness from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Thursday, October 26th. Finally, Jefferies Group cut Planet Fitness from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $34.00.
In other Planet Fitness news, CFO Dorvin D. Lively sold 144,557 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $31.80, for a total value of $4,596,912.60. Following the completion of the transaction, the chief financial officer now owns 38,674 shares of the company’s stock, valued at approximately $1,229,833.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dorvin D. Lively sold 38,674 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $32.29, for a total value of $1,248,783.46. Following the completion of the transaction, the chief financial officer now directly owns 38,674 shares of the company’s stock, valued at approximately $1,248,783.46. The disclosure for this sale can be found here. Insiders have sold a total of 688,674 shares of company stock valued at $22,503,951 in the last three months. 19.87% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $1,369,000. Castleark Management LLC grew its stake in shares of Planet Fitness by 50.4% in the 4th quarter. Castleark Management LLC now owns 448,440 shares of the company’s stock valued at $15,529,000 after purchasing an additional 150,225 shares during the period. Jane Street Group LLC bought a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $733,000. Two Sigma Investments LP grew its stake in shares of Planet Fitness by 234.7% in the 4th quarter. Two Sigma Investments LP now owns 178,380 shares of the company’s stock valued at $6,177,000 after purchasing an additional 125,080 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Planet Fitness by 18.8% in the 4th quarter. Two Sigma Advisers LP now owns 176,685 shares of the company’s stock valued at $6,119,000 after purchasing an additional 27,900 shares during the period.
Shares of Planet Fitness (NYSE PLNT) opened at $32.38 on Tuesday. Planet Fitness has a 12 month low of $18.32 and a 12 month high of $35.03. The firm has a market capitalization of $3,184.99, a P/E ratio of 49.06, a PEG ratio of 1.72 and a beta of 0.79. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of -5.00.
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About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three 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, the Dominican Republic and Canada.
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