On April 12, 2023 at 09:44:16 ET an unusually large
$79.54K block of Put contracts in Planet Fitness
(PLNT) was bought,
with a strike price of $77.50 / share, expiring in 9 days (on April 21, 2023).
Fintel tracks all large options trades, and the premium spent on this trade was � sigmas above the mean, placing it in the percentile of all recent large trades made in PLNT options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 23.40% Upside
As of April 6, 2023,
the average one-year price target for Planet Fitness is $97.65.
The forecasts range from a low of $83.83 to a high of $120.75.
The average price target represents an increase of 23.40% from its latest reported closing price of $79.13.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Planet Fitness
is $1,090MM, an increase of 24.05%.
The projected annual non-GAAP EPS
is $2.12.
What is the Fund Sentiment?
There are 706 funds or institutions reporting positions in Planet Fitness.
This is an increase
of
16
owner(s) or 2.32% in the last quarter.
Average portfolio weight of all funds dedicated to PLNT is 0.45%,
an increase
of 26.13%.
Total shares owned by institutions increased
in the last three months by 0.83% to 109,457K shares.
The put/call ratio of PLNT is 1.79, indicating a
bearish
outlook.
What are Large Shareholders Doing?
SRS Investment Management
holds 6,957K shares
representing 8.17% ownership of the company.
No change in the last quarter.
CMGIX – Blackrock Mid Cap Growth Equity Portfolio Institutional
holds 3,913K shares
representing 4.59% ownership of the company.
In it’s prior filing, the firm reported owning 3,987K shares, representing
a decrease
of 1.88%.
The firm
increased
its portfolio allocation in PLNT by 19.59% over the last quarter.
Alliancebernstein
holds 2,812K shares
representing 3.30% ownership of the company.
In it’s prior filing, the firm reported owning 3,021K shares, representing
a decrease
of 7.45%.
The firm
increased
its portfolio allocation in PLNT by 18.23% over the last quarter.
Jpmorgan Chase &
holds 2,720K shares
representing 3.19% ownership of the company.
In it’s prior filing, the firm reported owning 3,041K shares, representing
a decrease
of 11.77%.
The firm
decreased
its portfolio allocation in PLNT by 99.89% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 2,539K shares
representing 2.98% ownership of the company.
In it’s prior filing, the firm reported owning 2,491K shares, representing
an increase
of 1.90%.
The firm
increased
its portfolio allocation in PLNT by 28.65% over the last quarter.
Planet Fitness Background Information
(This description is provided by the company.)
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of September 30, 2020, Planet Fitness had more than 14.1 million members and 2,086 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
