Planet Fitness, Inc. (NYSE:PLNT) Short Interest Update

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 6,779,109 shares, a decline of 13.1% from the December 31st total of 7,799,447 shares. Approximately 8.2% of the company’s shares are short sold. Based on an average daily volume of 2,301,683 shares, the days-to-cover ratio is currently 2.9 days. Based on an average daily volume of 2,301,683 shares, the days-to-cover ratio is currently 2.9 days. Approximately 8.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds have recently bought and sold shares of the company. ABN AMRO Bank N.V. bought a new position in shares of Planet Fitness in the 2nd quarter valued at $13,214,000. Inceptionr LLC acquired a new position in Planet Fitness in the 2nd quarter worth about $356,000. Federated Hermes Inc. raised its position in Planet Fitness by 21.0% in the third quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after purchasing an additional 130,687 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Planet Fitness during the second quarter valued at about $2,633,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Planet Fitness during the second quarter valued at about $883,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Up 1.5%

NYSE PLNT opened at $92.15 on Thursday. Planet Fitness has a 12-month low of $87.72 and a 12-month high of $114.47. The firm has a 50-day moving average price of $104.06 and a two-hundred day moving average price of $103.26. The company has a market capitalization of $7.68 billion, a P/E ratio of 37.61, a P/E/G ratio of 1.52 and a beta of 1.26.

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. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. During the same quarter in the prior year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts expect that Planet Fitness will post 2.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PLNT shares. Macquarie reduced their price target on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. Canaccord Genuity Group raised their price target on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. UBS Group reissued a “buy” rating on shares of Planet Fitness in a research note on Friday, January 9th. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $122.27.

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.