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Planet Fitness Inc [PLNT] Investment Appeal on the Rise

Planet Fitness Inc’s recent filing unveils that its Interim CEO BENSON CRAIG R acquired Company’s shares for reported $0.68 million on Dec 11 ’23. In the deal valued at $68.15 per share,10,000 shares were bought. As a result of this transaction, BENSON CRAIG R now holds 35,000 shares worth roughly $2.27 million.

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Then, Rondeau Christopher sold 1,000,000 shares, generating $66,550,000 in total proceeds. Upon selling the shares at $66.55, the Director now owns 0 shares.

Before that, Rondeau Christopher bought 10,000 shares. Planet Fitness Inc shares valued at $649,850 were divested by the Chief Executive Officer at a price of $64.98 per share. As a result of the transaction, Rondeau Christopher now holds 36,305 shares, worth roughly $2.36 million.

Stifel downgraded its Planet Fitness Inc [PLNT] rating to a Hold from a a Buy in a research note published on May 10, 2024; the price target was decreased to $70 from $80. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who increased its forecast for the stock in mid October from “an Underperform” to “a Neutral”. Morgan Stanley began covering PLNT with “an Overweight” recommendation on September 27, 2023. JP Morgan revised its rating on September 19, 2023. It rated PLNT as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of PLNT

On Friday, Planet Fitness Inc [NYSE:PLNT] saw its stock fall -0.57% to $64.95. Over the last five days, the stock has gained 9.10%. Planet Fitness Inc shares have fallen nearly -11.03% since the year began. Nevertheless, the stocks have fallen -6.02% over the past one year. While a 52-week high of $75.86 was reached on 01/08/24, a 52-week low of $44.13 was recorded on 03/20/24. SMA at 50 days reached $61.52, while 200 days put it at $62.29. A total of 2.28 million shares were traded, compared to the trading of 5.13 million shares in the previous session.

Levels Of Support And Resistance For PLNT Stock

The 24-hour chart illustrates a support level at 63.80, which if violated will result in even more drops to 62.64. On the upside, there is a resistance level at 65.82. A further resistance level may holdings at 66.68. The Relative Strength Index (RSI) on the 14-day chart is 62.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.99, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 32.64%. Stochastics %K at 77.11% indicates the stock is a holding.

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