Planet Fitness, Inc. (NYSE:PLNT) Short Interest Down 13.1% in January

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. TD Cowen restated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, January 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Planet Fitness in a research note on Tuesday, December 9th. Macquarie dropped their price target on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. Finally, Morgan Stanley upped their price objective on Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Planet Fitness presently has an average rating of “Buy” and an average price target of $122.27.

Institutional Investors Weigh In On Planet Fitness

A number of institutional investors have recently added to or reduced their stakes in PLNT. Game Plan Financial Advisors LLC purchased a new position in shares of Planet Fitness in the 2nd quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in Planet Fitness during the 4th quarter worth approximately $27,000. Hantz Financial Services Inc. raised its holdings in Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after buying an additional 241 shares during the period. EverSource Wealth Advisors LLC lifted its position in Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after buying an additional 214 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in Planet Fitness by 6,950.0% during the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after buying an additional 417 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Planet Fitness stock traded down $0.96 during trading on Tuesday, hitting $90.32. The company’s stock had a trading volume of 154,611 shares, compared to its average volume of 1,857,235. The stock’s fifty day moving average is $104.87 and its 200 day moving average is $103.50. Planet Fitness has a 1-year low of $87.72 and a 1-year high of $114.47. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 1.52 and a beta of 1.26.

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

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.