Planet Fitness, Inc.  (NYSE:PLNT) Short Interest Update

Planet Fitness, Inc. (NYSE:PLNT) Short Interest Update


Planet Fitness, Inc. (NYSE:PLNT – Get Rating) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totaling 2,870,000 shares, a drop of 17.8% from the May 15th total of 3,490,000 shares. Based on an average daily volume of 893,100 shares, the short-interest ratio is presently 3.2 days.

Several research firms have recently commented on PLNT. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a research report on Wednesday, May 11th. BMO Capital Markets decreased their price target on shares of Planet Fitness from $96.00 to $88.00 in a research note on Wednesday, May 11th. Piper Sandler decreased their price target on shares of Planet Fitness from $87.00 to $72.00 in a research note on Wednesday, May 11th. Evercore ISI assumed coverage on shares of Planet Fitness in a research note on Monday, March 14th. They issued an “outperform” rating and a $130.00 price target for the company. Finally, StockNews.com assumed coverage on shares of Planet Fitness in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $98.91.

Shares of NYSE PLNT traded up $3.59 during trading on Friday, reaching $65.06. 1,075,128 shares of the company traded hands, compared to its average volume of 979,850. The firm has a 50 day simple moving average of $74.21 and a 200-day simple moving average of $82.27. The stock has a market capitalization of $5.92 billion, a PE ratio of 96.05, a P/E/G ratio of 1.15 and a beta of 1.17. Planet Fitness has a 52-week low of $61.11 and a 52-week high of $99.60.

Planet Fitness (NYSE:PLNT – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $190.44 million. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The firm’s revenue was up 66.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, equities research analysts forecast that Planet Fitness will post 1.55 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Planet Fitness by 34.8% in the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after buying an additional 1,852,867 shares during the last quarter. Soroban Capital Partners LP increased its stake in shares of Planet Fitness by 938.3% in the third quarter. Soroban Capital Partners LP now owns 3,196,044 shares of the company’s stock worth $251,049,000 after purchasing an additional 2,888,217 shares in the last quarter. Alliancebernstein LP increased its stake in Planet Fitness by 37.0% in the 4th quarter. Alliancebernstein LP now owns 2,771,855 shares of the company’s stock worth $251,075,000 after buying an additional 748,189 shares in the last quarter. Morgan Stanley increased its stake in Planet Fitness by 2.7% in the 2nd quarter. Morgan Stanley now owns 2,301,633 shares of the company’s stock worth $173,197,000 after buying an additional 60,746 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Planet Fitness by 2.8% in the 1st quarter. Federated Hermes Inc. now owns 2,000,228 shares of the company’s stock worth $168,979,000 after buying an additional 55,118 shares in the last quarter. 93.87% of the stock is currently owned by institutional investors.

Planet Fitness Company Profile (GetRated)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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