Short Interest in Planet Fitness Inc (NYSE:PLNT) Declines By 17.3%

Planet Fitness Inc (NYSE:PLNT) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 5,170,000 shares, a decrease of 17.3% from the December 15th total of 6,250,000 shares. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is presently 4.5 days. Approximately 6.3% of the shares of the company are sold short.

A number of large investors have recently added to or reduced their stakes in the business. Chicago Capital LLC raised its position in Planet Fitness by 4,254.9% in the fourth quarter. Chicago Capital LLC now owns 313,556 shares of the company’s stock worth $23,416,000 after acquiring an additional 306,356 shares in the last quarter. Artemis Investment Management LLP raised its position in Planet Fitness by 2.0% in the fourth quarter. Artemis Investment Management LLP now owns 971,462 shares of the company’s stock worth $71,974,000 after acquiring an additional 19,514 shares in the last quarter. Patten & Patten Inc. TN purchased a new position in Planet Fitness in the fourth quarter worth $314,000. Maverick Capital Ltd. raised its position in Planet Fitness by 395.0% in the third quarter. Maverick Capital Ltd. now owns 165,562 shares of the company’s stock worth $9,581,000 after acquiring an additional 132,112 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Planet Fitness in the third quarter worth $43,316,000. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Shares of NYSE PLNT traded up $0.84 during mid-day trading on Tuesday, hitting $79.88. 1,147,969 shares of the company were exchanged, compared to its average volume of 859,451. The stock has a 50 day simple moving average of $74.72 and a 200-day simple moving average of $69.67. Planet Fitness has a 1-year low of $56.14 and a 1-year high of $81.90. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 65.48, a price-to-earnings-growth ratio of 1.92 and a beta of 0.66.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $166.82 million during the quarter, compared to analysts’ expectations of $162.26 million. Planet Fitness had a negative return on equity of 37.57% and a net margin of 16.80%. Planet Fitness’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. On average, equities analysts anticipate that Planet Fitness will post 1.57 EPS for the current year.

Several research firms have recently weighed in on PLNT. Robert W. Baird increased their price objective on Planet Fitness from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday. Roth Capital decreased their price objective on Planet Fitness from $86.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 8th. Zacks Investment Research downgraded Planet Fitness from a “hold” rating to a “strong sell” rating and set a $83.00 price target for the company. in a report on Tuesday. Imperial Capital increased their price target on Planet Fitness from $72.50 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Macquarie reaffirmed a “buy” rating and set a $90.00 price target on shares of Planet Fitness in a report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $79.77.

Planet Fitness Company Profile

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

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