Benefit Street Partners LLC Makes New Investment in Peloton Interactive, Inc. $PTON

Benefit Street Partners LLC purchased a new position in shares of Peloton Interactive, Inc. (NASDAQ:PTON) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 250,000 shares of the company’s stock, valued at approximately $1,072,000. Peloton Interactive accounts for approximately 1.2% of Benefit Street Partners LLC’s holdings, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Peloton Interactive by 342.6% in the first quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock valued at $3,896,000 after purchasing an additional 477,106 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Peloton Interactive by 2.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock worth $1,839,000 after buying an additional 6,921 shares in the last quarter. NewEdge Advisors LLC boosted its position in Peloton Interactive by 3,132.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock valued at $98,000 after buying an additional 15,068 shares during the period. Goldman Sachs Group Inc. boosted its position in Peloton Interactive by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after buying an additional 1,503,680 shares during the period. Finally, Caxton Associates LLP acquired a new position in shares of Peloton Interactive in the first quarter worth $282,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Wall Street Analysts Forecast Growth

PTON has been the topic of a number of recent research reports. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Peloton Interactive in a research report on Wednesday, May 27th. Weiss Ratings upgraded Peloton Interactive from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. The Goldman Sachs Group boosted their target price on Peloton Interactive from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Peloton Interactive from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, UBS Group reaffirmed a “buy” rating on shares of Peloton Interactive in a research report on Monday, June 15th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.25.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Saqib Baig sold 5,000 shares of Peloton Interactive stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $5.66, for a total transaction of $28,300.00. Following the completion of the sale, the chief financial officer directly owned 234,046 shares of the company’s stock, valued at $1,324,700.36. The trade was a 2.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion C. Sanders sold 112,523 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $5.19, for a total value of $583,994.37. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 196,047 shares of company stock worth $1,024,633 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Peloton Interactive Trading Up 5.3%

Shares of NASDAQ:PTON opened at $5.73 on Thursday. Peloton Interactive, Inc. has a 52 week low of $3.65 and a 52 week high of $9.20. The company’s 50 day moving average is $5.51 and its two-hundred day moving average is $5.29. The company has a market cap of $2.48 billion, a PE ratio of 143.29, a P/E/G ratio of 0.92 and a beta of 2.54.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a negative return on equity of 6.95% and a net margin of 0.94%.The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) EPS. As a group, equities research analysts expect that Peloton Interactive, Inc. will post 0.13 EPS for the current year.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.