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

Planet Fitness, Inc. (NYSE:PLNT) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 7,799,447 shares, a growth of 22.3% from the December 15th total of 6,377,537 shares. Currently, 9.4% of the shares of the company are sold short. 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 shares of the company are sold short.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLNT. Royal Bank Of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Planet Fitness in a research report on Tuesday, December 9th. Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Canaccord Genuity Group upped their price objective on shares of Planet Fitness from $130.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 17th. Finally, Morgan Stanley lifted their target price on shares of Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.08.

Planet Fitness Stock Performance

PLNT remained flat at $97.71 during trading hours on Tuesday. 574,671 shares of the company traded hands, compared to its average volume of 2,102,553. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 39.85, a P/E/G 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 stock’s 50-day moving average price is $107.25 and its 200 day moving average price is $104.54.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The firm had revenue of $330.35 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Analysts predict that Planet Fitness will post 2.51 earnings per share for the current fiscal year.

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently bought and sold shares of PLNT. Aberdeen Group plc acquired a new position in shares of Planet Fitness during the 4th quarter worth about $10,688,000. Exchange Traded Concepts LLC increased its stake in Planet Fitness by 17.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,053 shares of the company’s stock valued at $982,000 after purchasing an additional 1,329 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in Planet Fitness by 14.3% during the fourth quarter. E. Ohman J or Asset Management AB now owns 26,287 shares of the company’s stock worth $2,851,000 after purchasing an additional 3,298 shares in the last quarter. SG Americas Securities LLC raised its holdings in Planet Fitness by 8.0% during the fourth quarter. SG Americas Securities LLC now owns 26,989 shares of the company’s stock worth $2,927,000 after purchasing an additional 1,996 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Planet Fitness during the 4th quarter worth approximately $11,934,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

About Planet Fitness

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.