Planet Fitness Inc (NYSE:PLNT) was the recipient of some unusual options trading activity on Thursday. Investors bought 2,626 put options on the stock. This represents an increase of 4,205% compared to the typical daily volume of 61 put options.

PLNT has been the subject of a number of recent research reports. Robert W. Baird reissued an “outperform” rating and issued a $31.00 price objective (up from $28.00) on shares of Planet Fitness in a research note on Wednesday, October 4th. BidaskClub lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, October 11th. Jefferies Group restated a “buy” rating and issued a $29.00 target price on shares of Planet Fitness in a report on Thursday, October 19th. Finally, Bank of America raised their target price on shares of Planet Fitness from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $32.88.

Planet Fitness (NYSE:PLNT) traded down $0.32 during trading on Monday, hitting $34.42. 506,010 shares of the stock traded hands, compared to its average volume of 1,116,974. Planet Fitness has a 12-month low of $18.32 and a 12-month high of $35.03. The company has a market cap of $3,420.00 and a price-to-earnings ratio of 51.37. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of -5.00.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The company had revenue of $97.50 million during the quarter, compared to analyst estimates of $93.55 million. During the same quarter last year, the business posted $0.16 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. equities analysts forecast that Planet Fitness will post 0.82 EPS for the current year.

In related news, CEO Christopher Rondeau sold 1,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $27.04, for a total transaction of $27,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Richard L. Moore sold 1,640 shares of Planet Fitness stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total transaction of $44,280.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,640 shares of the company’s stock, valued at $44,280. The disclosure for this sale can be found here. Insiders have sold a total of 1,234,427 shares of company stock worth $38,560,422 over the last 90 days. Insiders own 19.87% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System lifted its holdings in Planet Fitness by 10.5% during the 3rd quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock valued at $626,000 after buying an additional 2,200 shares in the last quarter. Strs Ohio lifted its holdings in Planet Fitness by 69.7% during the 4th quarter. Strs Ohio now owns 5,600 shares of the company’s stock valued at $193,000 after buying an additional 2,300 shares in the last quarter. Wolverine Trading LLC lifted its holdings in Planet Fitness by 24.5% during the 2nd quarter. Wolverine Trading LLC now owns 11,704 shares of the company’s stock valued at $274,000 after buying an additional 2,304 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Planet Fitness by 2.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,498 shares of the company’s stock valued at $2,089,000 after buying an additional 2,369 shares in the last quarter. Finally, Mastrapasqua Asset Management Inc. lifted its holdings in Planet Fitness by 12.4% during the 3rd quarter. Mastrapasqua Asset Management Inc. now owns 24,985 shares of the company’s stock valued at $674,000 after buying an additional 2,750 shares in the last quarter.

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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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