Hennessy Advisors Inc. Has $55.80 Million Stock Holdings in Peloton Interactive, Inc. $PTON

Key Points

• Hennessy Advisors Inc. reduced its stake in Peloton Interactive by 9.9% during the second quarter, now holding about $55.80 million worth, representing 1.9% of its total holdings.
• Insider trading activity has been significant, with two insiders, Jennifer Cunningham Cotter and Dion C. Sanders, selling a combined total of 274,226 shares in recent months, indicating a decrease in their ownership positions.
• Peloton's stock opened at $8.58 on Friday, with a reported EPS of $0.05 for the last quarter, exceeding analysts’ expectations, despite a 5.8% decline in revenue year-over-year.

Hennessy Advisors Inc. lessened its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,039,800 shares of the company's stock after selling 887,400 shares during the period. Peloton Interactive comprises 1.9% of Hennessy Advisors Inc.'s holdings, making the stock its 6th largest holding. Hennessy Advisors Inc. owned 2.06% of Peloton Interactive worth $55,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Parkside Investments LLC grew its position in shares of Peloton Interactive by 95.5% during the 2nd quarter. Parkside Investments LLC now owns 30,700 shares of the company's stock worth $213,000 after purchasing an additional 15,000 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Peloton Interactive during the 2nd quarter worth approximately $134,000. Kirr Marbach & Co. LLC IN acquired a new position in shares of Peloton Interactive during the 2nd quarter worth approximately $3,265,000. Sivia Capital Partners LLC acquired a new position in shares of Peloton Interactive during the 2nd quarter worth approximately $92,000. Finally, Rhumbline Advisers grew its position in shares of Peloton Interactive by 5.8% during the 1st quarter. Rhumbline Advisers now owns 507,138 shares of the company's stock worth $3,205,000 after purchasing an additional 28,004 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company's stock.

Insider Activity at Peloton Interactive

In related news, insider Jennifer Cunningham Cotter sold 146,315 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $8.37, for a total transaction of $1,224,656.55. Following the completion of the transaction, the insider directly owned 234,745 shares in the company, valued at $1,964,815.65. This represents a 38.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dion C. Sanders sold 127,911 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.78, for a total transaction of $995,147.58. Following the sale, the insider directly owned 110,753 shares in the company, valued at $861,658.34. The trade was a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,851,961 shares of company stock valued at $14,775,168 in the last quarter. 1.34% of the stock is owned by company insiders.

Peloton Interactive Price Performance

PTON stock opened at $8.58 on Friday. The company has a 50 day simple moving average of $7.86 and a 200 day simple moving average of $6.97. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -27.68, a P/E/G ratio of 3.33 and a beta of 2.27. Peloton Interactive, Inc. has a 1 year low of $4.52 and a 1 year high of $10.90.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.12. The company had revenue of $606.90 million for the quarter, compared to analyst estimates of $580.29 million. Peloton Interactive's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Peloton Interactive has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PTON has been the topic of a number of analyst reports. Macquarie increased their target price on shares of Peloton Interactive from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Thursday, August 14th. The Goldman Sachs Group restated a "buy" rating and issued a $11.50 target price on shares of Peloton Interactive in a research report on Thursday. Morgan Stanley boosted their target price on shares of Peloton Interactive from $4.00 to $5.75 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Weiss Ratings restated a "sell (e+)" rating on shares of Peloton Interactive in a research report on Saturday, September 27th. Finally, UBS Group upgraded shares of Peloton Interactive from a "neutral" rating to a "buy" rating and boosted their target price for the company from $7.50 to $11.00 in a research report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.36.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.

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