Chief Operations Officer Bode William sold 44 shares of Planet Fitness Inc. [PLNT]

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Planet Fitness Inc. shares valued at $3,575 were sold by Bode William on Apr 11. At $81.25 per share, Bode William sold 44 shares. The insider’s holdings dropped to 7,310 shares worth approximately $0.44 million following the completion of this transaction.

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Also, Bode William sold 116 shares, netting a total of over 9,730 in proceeds. Following the sale of shares at $83.88 each, the insider now holds 7,354 shares.

Before that, Tucker Jeremy had sold 111 shares from its account. In a trade valued at $10,055, the Chief Marketing Officer traded Planet Fitness Inc. shares for $90.59 each. Upon closing the transaction, the insider’s holdings decreased to 111 shares, worth approximately $0.28 million.

As published in a research note from Exane BNP Paribas on July 07, 2022, Planet Fitness Inc. [PLNT] has been rated up from an Underperform to a Neutral and the price target has been revised to $75. This represents a 18.85% premium over Wednesday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid May. As of March 15, 2022, Evercore ISI has initiated its “an Outperform” rating for PLNT. Earlier on January 12, 2022, Cowen resumed its rating. Their recommendation was “an Outperform” for PLNT stock.

Analyzing PLNT’s Price Performance

On Wednesday, Planet Fitness Inc. [NYSE: PLNT] plunged -3.43% to $60.86. The stock’s lowest price that day was $60.76, but it reached a high of $63.35 in the same session. During the last five days, there has been a drop of approximately -12.53%. Over the course of the year, Planet Fitness Inc. shares have dropped approximately -32.81%. Shares of the company reached a 52-week high of $97.33 on 01/12/22 and a 52-week low of $60.76 on 09/21/22. A 50-day SMA is recorded $74.16, while a 200-day SMA reached $79.15. Nevertheless, trading volume fell to 1.53 million shares from 0.85 million shares the previous day.

Support And Resistance Levels for Planet Fitness Inc. (PLNT)

According to the 24-hour chart, there is a support level at 59.96, which, if violated, would cause prices to drop to 59.07. In the upper region, resistance lies at 62.55. The next price resistance is at 64.25. RSI (Relative Strength Index) is 27.83 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.13, which suggests the price will decrease in the coming days. Percent R is at 99.16%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Planet Fitness Inc. subject to short interest?

Stocks of Planet Fitness Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.52 million shares to 3.33 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.81 million shares. A jump of 15.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.19 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.19.

Which companies own the most shares of Planet Fitness Inc. (PLNT)?

According to The Vanguard Group, Inc. filings, the company currently owns 7,445,666 shares, which is about 8.84% of the total PLNT shares outstanding. The investor’s shares have appreciated by 159,248 from its previous 13-F filing of 7286418.0 shares. BlackRock Advisors LLC acquire a 36.40% interest valued at $327.2 million while BlackRock Fund Advisors purchased a 178,449 stake. A total of 2,206 shares of Planet Fitness Inc. were bought by AllianceBernstein LP during the quarter, and -41,273 were sold by JPMorgan Investment Management, I. In its current portfolio, Amundi Asset Management US, Inc. holds 2,305,037 shares valued at $156.17 million.

In terms of Planet Fitness Inc. share price expectations, FactSet research, analysts set an average price target of $92.94 in the next 12 months, up nearly 49.16% from the previous closing price of $63.02. Analysts anticipate Planet Fitness Inc. stock to reach $115.00 by 2022, with the lowest price target being $73.00. In spite of this, 18 analysts ranked Planet Fitness Inc. stock as a Buy at the end of 2022. On December 14, 2021, Cowen assigned a price target of “an Outperform” to the stock and upgraded coverage with a $100.


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