Analyst: Planet Fitness Stock Is a 'Bullish Fresh Pick'

Core Viewpoint - Baird has designated Planet Fitness Inc (NYSE:PLNT) as a "bullish fresh pick" and maintained an "overweight" rating, suggesting the company may perform well despite a cooler growth environment [1] Group 1: Stock Performance - Shares of Planet Fitness are currently trading at $81.75, marking a 0.8% increase [1] - The stock is at its highest level since May 2023 and has surpassed its 20-day moving average, breaking through the $79 resistance level that had limited its rally in July [2] - Over the past 12 months, shares have increased by more than 36% [2] Group 2: Short Interest and Market Sentiment - Short interest in Planet Fitness has decreased by 23.7% over the last two reporting periods, indicating that bearish sentiment is waning [3] - Despite this decline, 5.04 million shares sold short still represent 6% of the stock's available float, suggesting lingering pessimism in the market [3] Group 3: Options Market Activity - The 50-day put/call volume ratio for Planet Fitness is 5.11, which is higher than 93% of readings from the past year, indicating a higher-than-usual popularity of puts in the options market [4] - The Schaeffer's Volatility Index (SVI) for the stock is at 23%, placing it in the 1st percentile of annual readings, which reflects low volatility expectations among options traders [4]