Planet Fitness Inc (NYSE:PLNT) Short Interest Update

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Planet Fitness Inc (NYSE:PLNT) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,550,000 shares, a decrease of 20.4% from the September 30th total of 4,460,000 shares. Currently, 4.4% of the company’s stock are sold short. Based on an average daily volume of 1,360,000 shares, the days-to-cover ratio is presently 2.6 days.

NYSE PLNT traded down $0.93 during trading hours on Thursday, reaching $70.10. 1,329,993 shares of the company traded hands, compared to its average volume of 1,438,653. Planet Fitness has a 12 month low of $48.00 and a 12 month high of $81.90. The stock has a market capitalization of $6.56 billion, a PE ratio of 57.46, a PEG ratio of 2.04 and a beta of 0.63. The company has a 50 day moving average of $61.09 and a two-hundred day moving average of $70.47.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Planet Fitness had a net margin of 16.80% and a negative return on equity of 40.02%. The firm had revenue of $166.82 million for the quarter, compared to the consensus estimate of $162.26 million. During the same period in the prior year, the firm posted $0.28 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Analysts forecast that Planet Fitness will post 1.57 EPS for the current year.

Several research analysts have recently weighed in on PLNT shares. Piper Jaffray Companies restated a “buy” rating and issued a $84.00 target price on shares of Planet Fitness in a research note on Wednesday. Roth Capital reduced their price objective on shares of Planet Fitness from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Berenberg Bank downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and reduced their price objective for the company from $80.00 to $69.00 in a research note on Tuesday, September 3rd. ValuEngine downgraded shares of Planet Fitness from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 price objective on the stock. in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $77.08.

Several institutional investors have recently bought and sold shares of PLNT. Invesco Ltd. lifted its position in shares of Planet Fitness by 547.3% in the 2nd quarter. Invesco Ltd. now owns 2,271,707 shares of the company’s stock worth $164,563,000 after buying an additional 1,920,729 shares during the last quarter. Putnam Investments LLC lifted its position in shares of Planet Fitness by 376.5% in the 2nd quarter. Putnam Investments LLC now owns 1,188,398 shares of the company’s stock worth $86,087,000 after buying an additional 938,985 shares during the last quarter. Pelham Capital Ltd. lifted its position in shares of Planet Fitness by 104.2% in the 2nd quarter. Pelham Capital Ltd. now owns 1,309,081 shares of the company’s stock worth $94,830,000 after buying an additional 668,113 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Planet Fitness in the 2nd quarter worth about $41,592,000. Finally, Scout Investments Inc. bought a new position in shares of Planet Fitness in the 3rd quarter worth about $23,796,000. Institutional investors own 87.75% of the company’s stock.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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