Planet Fitness, Inc. (NYSE:PLNT) Short Interest Up 22.3% in December

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

Planet Fitness Price Performance

Shares of PLNT stock opened at $97.00 on Wednesday. Planet Fitness has a 1-year low of $87.72 and a 1-year high of $114.47. The firm has a market cap of $8.08 billion, a PE ratio of 39.59, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27. The company has a 50-day moving average of $107.08 and a two-hundred day moving average of $104.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $330.35 million for the quarter, compared to analyst estimates of $323.95 million. During the same period in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter 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. Sell-side analysts anticipate that Planet Fitness will post 2.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Planet Fitness by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock worth $134,201,000 after acquiring an additional 24,981 shares in the last quarter. Empowered Funds LLC purchased a new stake in Planet Fitness during the first quarter worth about $1,891,000. Voya Investment Management LLC lifted its position in shares of Planet Fitness by 33.3% during the first quarter. Voya Investment Management LLC now owns 33,431 shares of the company’s stock worth $3,230,000 after purchasing an additional 8,345 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Planet Fitness by 23.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,816 shares of the company’s stock valued at $411,000 after purchasing an additional 721 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Planet Fitness by 48.7% in the second quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock valued at $84,000 after purchasing an additional 253 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PLNT shares. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. William Blair restated an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Jefferies Financial Group reiterated a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Stifel Nicolaus increased their price target on shares of Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $123.09.

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.