Planet Fitness, Inc. (NYSE:PLNT) Sees Significant Growth in Short Interest

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 7,799,447 shares, an increase of 22.3% from the December 15th total of 6,377,537 shares. Based on an average daily volume of 1,403,403 shares, the short-interest ratio is presently 5.6 days. Currently, 9.4% of the shares of the company are sold short. Currently, 9.4% of the shares of the company are sold short. Based on an average daily volume of 1,403,403 shares, the short-interest ratio is presently 5.6 days.

Planet Fitness Stock Performance

Shares of Planet Fitness stock traded down $1.26 on Monday, hitting $97.83. The company’s stock had a trading volume of 1,687,344 shares, compared to its average volume of 1,598,511. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 39.93, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27. Planet Fitness has a 1 year low of $87.72 and a 1 year high of $114.47. The firm has a fifty day moving average price of $107.25 and a 200-day moving average price of $104.54.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.Planet Fitness’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, analysts forecast that Planet Fitness will post 2.51 EPS for the current year.

Analysts Set New Price Targets

PLNT has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. Canaccord Genuity Group raised their target price on Planet Fitness from $130.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Cowen reiterated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price objective on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a research note on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.08.

Institutional Investors Weigh In On Planet Fitness

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Game Plan Financial Advisors LLC acquired a new position in Planet Fitness during the second quarter worth $25,000. Hantz Financial Services Inc. increased its stake in shares of Planet Fitness by 964.0% during the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Planet Fitness by 6,950.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $44,000 after buying an additional 417 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Planet Fitness in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.