Planet Fitness's stock gets a lift after $300 million ASR agreement [MarketWatch]
Planet Fitness, Inc. (PLNT)
Last planet fitness, inc. earnings: 2/25 04:05 pm
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Source: MarketWatch
Planet Fitness's stock gets a lift after $300 million ASR agreement Shares of Planet Fitness Inc. PLNT, +2.82% rose 1.1% in premarket trade Wednesday, after the fitness centers operator said it entered into a $300 million accelerated share repurchase agreement. The ASR agreement with Citibank N.A. is part of the $500 million buyback program announced in August, of which $458 million remained as of Nov. 12. As part of the agreement, Planet Fitness will pay Citibank $300 million and will initially receive 4.6 million shares of its common stock, or about 80% of the shares it expects to buy back as part of the ASR. The total number of shares repurchased will be based on the average daily volume-weighted average prices during the term of the agreement, less an agreed discount. Planet Fitness's stock has run up 50.4% year to date through Tuesday, while the S&P 500 SPX, +0.85% has gained 1.8%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign
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PLNT
News
- 3 Leisure Stocks Poised to Beat Earnings Estimates in Q1 [Yahoo! Finance]Yahoo! Finance
- Planet Fitness names Colleen Keating as new CEO [Yahoo! Finance]Yahoo! Finance
- Planet Fitness names Colleen Keating as new CEO [FOX Business Network]FOX Business Network
- Planet Fitness shares fall as company announces new CEO [MSNBC.com]MSNBC.com
- Planet Fitness shares fall as company announces new CEO, though analysts see upside [MSNBC.com]MSNBC.com
PLNT
Earnings
- 2/22/24 - Beat
PLNT
Sec Filings
- 4/16/24 - Form 8-K
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- PLNT's page on the SEC website