The Attractiveness of Investing In Planet Fitness Inc. (PLNT) is Growing


In a filing, Planet Fitness Inc. revealed its Chief Executive Officer Rondeau Christopher acquired Company’s shares for reported $0.65 million on Jun 05. In the deal valued at $64.98 per share,10,000 shares were bought. As a result of this transaction, Rondeau Christopher now holds 36,305 shares worth roughly $ 2.2 million.

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Then, Simmons Jennifer sold 15 shares, generating $1,166 in total proceeds. Upon selling the shares at $77.73, the Div President, Corp Stores now owns 6,706 shares.

Before that, Simmons Jennifer sold 86 shares. Planet Fitness Inc. shares valued at $6,368 were divested by the Div President, Corp Stores at a price of $74.05 per share. As a result of the transaction, Simmons Jennifer now holds 6,721 shares, worth roughly $0.41 million.

Exane BNP Paribas downgraded its Planet Fitness Inc. [PLNT] rating to an Underperform from a a Neutral in a research note published on Monday. PT values the company’s stock at a premium of -6.23 to its Monday closing price.

Price Performance Review of PLNT

On Monday, Planet Fitness Inc. [NYSE:PLNT] saw its stock jump 0.88% to $60.55. On the same session, the stock had its day’s lowest price of $60.24, but rose to a high of $60.87. Over the last five days, the stock has gained 4.00%. Planet Fitness Inc. shares have fallen nearly -23.16% since the year began. Nevertheless, the stocks have fallen -21.83% over the past one year. While a 52-week high of $85.90 was reached on 02/02/23, a 52-week low of $54.15 was recorded on 08/21/23. SMA at 50 days reached $64.97, while 200 days put it at $73.53. A total of 0.7 million shares were traded, compared to the trading of 0.94 million shares in the previous session.

Levels Of Support And Resistance For PLNT Stock

The 24-hour chart illustrates a support level at 60.24, which if violated will result in even more drops to 59.92. On the upside, there is a resistance level at 60.87. A further resistance level may holdings at 61.18. The Relative Strength Index (RSI) on the 14-day chart is 42.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 35.21%. Stochastics %K at 50.29% indicates the stock is a holding.

How much short interest is there in Planet Fitness Inc.?

A steep rise in short interest was recorded in Planet Fitness Inc. stocks on Aug 14, 2023, dropping by -0.27 million shares to a total of 5.32 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.59 million shares. There was a decline of -5.08%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.31% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.39.

Planet Fitness Inc. [PLNT] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 7,861,973 shares, or roughly 9.25% of the outstanding PLNT shares. In other words, the investor’s shares have risen by 305,033 from its previous 13-F filing of 7556940.0. Additionally, BlackRock Fund Advisors increased 99.37% of its stake after which the total value it holdings stand at $491,288,729. Over the last quarter, BlackRock Advisors LLC purchased 363,420 shares of Planet Fitness Inc., while Amundi Asset Management US, Inc. bought 681,542 shares. At present, Champlain Investment Partners LLC is holding 3,103,159 shares valued at $209.59 million. William Blair Investment Manageme owned 2,852,990 shares of the company at the time of its most recent 13F filing, worth $192.69 million.

According to FactSet, Planet Fitness Inc.’s share price will average $79.06 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.29 percent from its previous closing price of $60.02. Analysts expect Planet Fitness Inc. stock to reach the higher price of $100.00, while the lowest price estimate is $54.00. However, 18 analysts have rated PLNT stock as a Buy in their predictions for 2023.


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