The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Planet Fitness Inc shares valued at $681,464 were purchased by BENSON CRAIG R on Dec 11 ’23. At $68.15 per share, BENSON CRAIG R acquired 10,000 shares. The insider’s holdings grew to 35,000 shares worth approximately $2.23 million following the completion of this transaction.
Also, Rondeau Christopher sold 1,000,000 shares, netting a total of over 66,550,000 in proceeds. Following the sale of shares at $66.55 each, the insider now holds 0 shares.
Before that, Rondeau Christopher had added 10,000 shares to its account. In a trade valued at $649,850, the Chief Executive Officer bought Planet Fitness Inc shares for $64.98 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $2.31 million.
As published in a research note from Exane BNP Paribas on October 16, 2023, Planet Fitness Inc [PLNT] has been rated up from an Underperform to a Neutral and the price target has been revised to $45. Analysts at Morgan Stanley started covering the stock with ‘”an Overweight”‘ outlook in a report released in late September. As of September 19, 2023, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for PLNT. Earlier on September 18, 2023, Jefferies downgraded its rating. Their new recommendation was “a Hold” for PLNT stock which previously was a “a Buy”.
Analyzing PLNT Stock Performance
During the last five days, there has been a drop of approximately -0.86%. Over the course of the year, Planet Fitness Inc shares have dropped approximately -12.85%. Shares of the company reached a 52-week high of $75.86 on 01/08/24 and a 52-week low of $54.35 on 03/20/24. A 50-day SMA is recorded $64.13, while a 200-day SMA reached $63.04. Nevertheless, trading volume fell to 1.17 million shares from 1.2 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 62.51, which, if violated, would cause prices to drop to 61.40. In the upper region, resistance lies at 64.82. The next price resistance is at 66.02. RSI (Relative Strength Index) is 52.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.87, which suggests the price will increase in the coming days. Percent R is at 22.07%, indicating bullish price movement. Stochastics %K at selling 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 Mar 15, 2024 jumping by 1.02 million shares to 4.77 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.75 million shares. A jump of 21.38% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.84.
