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

Planet Fitness, Inc. (NYSE:PLNT) saw a significant increase in short interest in 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. Currently, 9.4% of the company’s stock are short sold. Based on an average daily trading volume, of 1,403,403 shares, the short-interest ratio is currently 5.6 days. Based on an average daily trading volume, of 1,403,403 shares, the short-interest ratio is currently 5.6 days. Currently, 9.4% of the company’s stock are short sold.

Planet Fitness Stock Down 1.3%

Shares of Planet Fitness stock traded down $1.26 during midday trading on Monday, hitting $97.83. The company had a trading volume of 1,687,344 shares, compared to its average volume of 1,598,511. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 1.87 and a beta of 1.27. The company has a fifty day simple moving average of $107.25 and a 200 day simple moving average of $104.54. Planet Fitness has a 12-month low of $87.72 and a 12-month high of $114.47.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 net margin of 15.97% and a negative return on equity of 126.58%. Planet Fitness’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, analysts expect that Planet Fitness will post 2.51 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLNT. Cowen reiterated a “buy” rating on shares of Planet Fitness in a report on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. JPMorgan Chase & Co. raised their price target on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Planet Fitness in a research report on Tuesday, December 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.08.

Hedge Funds Weigh In On Planet Fitness

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLNT. Ninety One UK Ltd grew its stake in Planet Fitness by 20.0% during the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after purchasing an additional 577,637 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Planet Fitness by 15.0% during the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after purchasing an additional 332,362 shares during the period. Dorsal Capital Management LP boosted its position in Planet Fitness by 7.6% in the second quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock valued at $269,899,000 after buying an additional 175,000 shares during the last quarter. Steadfast Capital Management LP increased its holdings in Planet Fitness by 4.6% in the 3rd quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock worth $196,077,000 after buying an additional 83,215 shares during the period. Finally, Geode Capital Management LLC raised its position in Planet Fitness by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,581,406 shares of the company’s stock worth $172,479,000 after buying an additional 57,103 shares during the last quarter. 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.