Short Interest in Planet Fitness, Inc. (NYSE:PLNT) Decreases By 13.1%

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of a significant drop in short interest during the month of 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 volume of 2,301,683 shares, the days-to-cover ratio is currently 2.9 days. Approximately 8.2% of the shares of the stock are sold short. Approximately 8.2% of the shares of the stock are sold short. Based on an average daily volume of 2,301,683 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Investors Weigh In On Planet Fitness

Institutional investors and hedge funds have recently made changes to their positions in the business. ABN AMRO Bank N.V. purchased a new stake in Planet Fitness during the second quarter worth about $13,214,000. Inceptionr LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter valued at approximately $356,000. Federated Hermes Inc. boosted its stake in shares of Planet Fitness by 21.0% during the 3rd quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock worth $78,170,000 after acquiring an additional 130,687 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Planet Fitness in the 2nd quarter worth approximately $2,633,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Planet Fitness in the 2nd quarter valued at approximately $883,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PLNT. TD Cowen restated a “buy” rating on shares of Planet Fitness in a research report on Wednesday, January 14th. Morgan Stanley increased their target price on Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Macquarie reduced their target price on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. JPMorgan Chase & Co. increased their price target on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. Two 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.com, the company presently has a consensus rating of “Buy” and an average target price of $122.27.

Planet Fitness Trading Down 1.1%

Shares of Planet Fitness stock traded down $0.96 on Tuesday, hitting $90.32. The stock had a trading volume of 154,611 shares, compared to its average volume of 1,857,235. The stock has a market cap 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 has a 52-week low of $87.72 and a 52-week high of $114.47. The company’s 50 day moving average price is $104.87 and its 200 day moving average price is $103.50.

Planet Fitness (NYSE:PLNT) last released its quarterly 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 company had revenue of $330.35 million for the quarter, compared to analyst estimates of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Analysts predict that Planet Fitness will post 2.51 EPS for the current fiscal year.

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.