Just a week ago, we heard about fitness chain Planet Fitness (PLNT) and its last-minute bid to buy up Blink Holdings, giving it access to a range of luxury gyms in the United States and beyond. That bid, however, was not to be. And investors took it surprisingly well, sending shares up nearly 2% in Wednesday afternoon’s trading.
Planet Fitness, noted a CNBC report, swung in at the last minute, getting in on a 48-hour “challenge window” in a bid to land the former chain’s holdings from bankruptcy court. But other offers came in, and the United Kingdom chain PureGym landed Blink’s operation instead.
The move now gives PureGym a much larger presence in the United States. Formerly, PureGym had just three locations in the United States, and its presence goes back to 2021. Now, PureGym will have 60 Blink locations, mostly found in New Jersey and New York, to add to its roster.
A Wall Street Journal report suggests that PureGym stepping in to take over Blink’s locations should pass regulatory muster rather smoothly. The bankruptcy judge in the case, J. Kate Stickles, noted that PureGym’s offer not only could more readily address antitrust concerns but would also let Blink continue to operate through the winter months, the busiest time of year for Blink.
While Planet Fitness’ bid was higher—up to $34 million higher, the report noted—there were potential concerns from regulators stepping in.
Turning to Wall Street, analysts have a Strong Buy consensus rating on PLNT stock based on 10 Buys and three Holds assigned in the past three months, as indicated by the graphic below. After a 47.67% rally in its share price over the past year, the average PLNT price target of $102.77 per share implies 6.46% upside potential.
Yaslen Clemente isn't just an influencer—she's a fitness powerhouse. The social media star is known for her intense workouts, and she recently sha
Samantha Espineira knows how to turn heads, both on and off the runway. The successful model and Instagram influencer regularly shares breathtaking
Best Health Tracker: Oura Ring 3Why We Love It: I’ve tried many, many fitness trackers—but I tend not to stick with one watch or band for very long. I’ve
A new study has debunked a popular TikTok wellness trend called cycle syncing, which claims that tailoring a workout routine to match the hormonal changes that