Planet Fitness, Inc. (NYSE:PLNT) Short Interest Down 25.8% in November

Planet Fitness, Inc. (NYSE:PLNT) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,820,000 shares, a decline of 25.8% from the October 31st total of 3,800,000 shares. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is presently 2.4 days.

Planet Fitness Stock Down 1.5 %

PLNT traded down $1.47 during trading on Friday, hitting $99.55. The company’s stock had a trading volume of 404,195 shares, compared to its average volume of 1,338,169. Planet Fitness has a one year low of $54.35 and a one year high of $102.81. The business’s 50 day simple moving average is $86.75 and its 200-day simple moving average is $78.73. The firm has a market cap of $8.42 billion, a PE ratio of 53.52, a P/E/G ratio of 3.31 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. Equities research analysts expect that Planet Fitness will post 2.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Raymond James increased their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. DA Davidson lifted their price target on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday. Macquarie restated a “neutral” rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Robert W. Baird lifted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Bank of America boosted their price target on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $93.38.

Insider Buying and Selling at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.94% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares during the last quarter. LRI Investments LLC lifted its position in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after buying an additional 153 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares during the last quarter. Quarry LP grew its holdings in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 318 shares in the last quarter. Finally, Dnca Finance purchased a new position in Planet Fitness during the 2nd quarter valued at approximately $82,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Company Profile

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