Planet Fitness, Inc. (NYSE:PLNT) Sees Significant Drop in Short Interest

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,820,000 shares, a decrease 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 short-interest ratio is currently 2.4 days.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC increased its position in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company's stock worth $30,000 after purchasing an additional 153 shares during the last quarter. Quarry LP raised its stake in shares of Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company's stock valued at $37,000 after purchasing an additional 318 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock worth $40,000 after purchasing an additional 201 shares during the last quarter. Finally, Dnca Finance acquired a new position in Planet Fitness in the second quarter worth about $82,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLNT. DA Davidson lifted their price objective on Planet Fitness from $70.00 to $87.00 and gave the stock a "neutral" rating in a research report on Friday. Bank of America boosted their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Morgan Stanley lifted their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Finally, Raymond James increased their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.38.

Planet Fitness Trading Down 1.5 %

NYSE:PLNT traded down $1.47 during trading hours on Friday, hitting $99.55. The stock had a trading volume of 404,195 shares, compared to its average volume of 1,521,743. The company has a market cap of $8.42 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 3.36 and a beta of 1.49. The business has a 50 day simple moving average of $86.75 and a two-hundred day simple moving average of $78.64. Planet Fitness has a 1-year low of $54.35 and a 1-year high of $102.81.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same period last year, the business earned $0.59 EPS. The business's revenue was up 5.3% on a year-over-year basis. Research analysts expect that Planet Fitness will post 2.5 EPS for the current fiscal year.

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.