May. 18 at 8:12 PM
Planet Fitness shares rose Monday after investors reacted positively to significant insider buying disclosed by company executives. The stock gained about 1.7% during the session following SEC filings showing recent open-market purchases by senior leadership.
CEO Colleen Keating bought 5,000 Class A shares on May 12 at an average price of
$49.54 per share, a transaction worth roughly
$250,000. Following the purchase, Keating increased her direct holdings to more than 141,000 shares, signaling confidence in the company’s outlook and valuation.
The insider buying trend was reinforced earlier in the month when board member Frances Rathke also acquired 5,000 shares on May 8 at
$46.21 per share through a revocable trust account. Rathke’s combined direct and indirect ownership now totals nearly 34,000 shares.
$PLNT