Quinn Opportunity Partners LLC Has $64 Million Holdings in Peloton Interactive, Inc. (NASDAQ:PTON)

Quinn Opportunity Partners LLC cut its stake in shares of Peloton Interactive, Inc. (NASDAQ:PTON) by 44.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,355,992 shares of the company’s stock after selling 5,930,222 shares during the period. Peloton Interactive comprises approximately 4.3% of Quinn Opportunity Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Quinn Opportunity Partners LLC owned 1.93% of Peloton Interactive worth $63,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Peloton Interactive by 3.8% in the fourth quarter. Victory Capital Management Inc. now owns 42,084 shares of the company’s stock valued at $366,000 after acquiring an additional 1,534 shares in the last quarter. Choreo LLC boosted its position in Peloton Interactive by 12.3% in the fourth quarter. Choreo LLC now owns 16,832 shares of the company’s stock worth $150,000 after purchasing an additional 1,838 shares during the last quarter. Counterpoint Mutual Funds LLC grew its stake in Peloton Interactive by 2.5% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 79,459 shares of the company’s stock valued at $691,000 after purchasing an additional 1,951 shares during the period. Jones Financial Companies Lllp increased its position in shares of Peloton Interactive by 33.9% during the 4th quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock valued at $83,000 after purchasing an additional 2,403 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Peloton Interactive during the 4th quarter worth $28,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Peloton Interactive

In other news, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.54, for a total value of $1,162,763.82. Following the transaction, the insider now owns 404,188 shares of the company’s stock, valued at $3,855,953.52. This represents a 23.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Cunningham Cotter sold 187,238 shares of Peloton Interactive stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $6.45, for a total transaction of $1,207,685.10. Following the sale, the insider now directly owns 100,269 shares of the company’s stock, valued at $646,735.05. This represents a 65.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 674,338 shares of company stock valued at $5,522,838. Company insiders own 1.34% of the company’s stock.

Peloton Interactive Trading Down 6.3 %

PTON stock opened at $5.50 on Friday. The firm has a 50 day moving average of $7.17 and a 200-day moving average of $7.63. The firm has a market capitalization of $2.14 billion, a P/E ratio of -7.14 and a beta of 2.21. Peloton Interactive, Inc. has a 12 month low of $2.70 and a 12 month high of $10.90.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Sell-side analysts predict that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

PTON has been the subject of several research reports. Telsey Advisory Group restated a “market perform” rating and set a $11.00 price objective on shares of Peloton Interactive in a report on Monday, February 3rd. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research note on Thursday, February 6th. Citigroup dropped their price objective on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Argus raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Tuesday, February 11th. Finally, JMP Securities restated a “market perform” rating on shares of Peloton Interactive in a research note on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.69.

About Peloton Interactive

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.