Short Interest in Planet Fitness, Inc. (NYSE:PLNT) Increases By 30.1%

Planet Fitness, Inc. (NYSE:PLNT) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 8,510,000 shares, a growth of 30.1% from the May 31st total of 6,540,000 shares. Based on an average trading volume of 1,810,000 shares, the days-to-cover ratio is currently 4.7 days.

Analysts Set New Price Targets

A number of analysts recently issued reports on PLNT shares. DA Davidson restated a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. Raymond James upped their price target on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $77.64.

Planet Fitness Trading Down 0.4 %

NYSE:PLNT traded down $0.33 during trading hours on Friday, hitting $73.59. 1,705,126 shares of the stock traded hands, compared to its average volume of 1,609,878. The firm has a 50 day moving average price of $65.81 and a 200 day moving average price of $66.56. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 2.48 and a beta of 1.43. Planet Fitness has a fifty-two week low of $44.13 and a fifty-two week high of $75.86.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same quarter in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts predict that Planet Fitness will post 2.43 EPS for the current year.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently modified their holdings of PLNT. Allworth Financial LP boosted its holdings in shares of Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after buying an additional 255 shares during the period. Fidelis Capital Partners LLC bought a new stake in Planet Fitness during the 1st quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness during the 4th quarter valued at approximately $47,000. Asset Management One Co. Ltd. grew its holdings in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after buying an additional 197 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Planet Fitness

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.