Zacks Investment Research Downgrades Town Sports International Holdings, Inc. (CLUB) to Hold

Town Sports International Holdings, Inc. (NASDAQ:CLUB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “TOWN SPORTS INTERNATIONAL, INC. health club company is the largest in the Northeastern United States. TSI owns and operates the Sports Clubs Network of clubs, which includes New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs and Philadelphia Sports Clubs. There are also three locations in Switzerland: the Forum and the Joggeli Fitness Clubs in Basel and the Luxor Club in Zurich. All Sports Clubs locations offer a multitude of options for everyone, including a wide range of group exercise and fitness programs. Select facilities also offer racquet sports, pools, basketball courts and other recreational activities. All Clubs are fully equipped with tons of strength training equipment, cardiovascular machines and other exercise equipment. Additional services such as personal training, massage, steam room and sauna, Sports Clubs for Kids and fitness assessments are also available. “

Town Sports International Holdings (NASDAQ:CLUB) opened at 4.625 on Wednesday. The company has a market cap of $116.72 million, a P/E ratio of 10.054 and a beta of 3.03. The firm has a 50-day moving average price of $4.10 and a 200-day moving average price of $3.46. Town Sports International Holdings has a 12-month low of $2.10 and a 12-month high of $4.90.

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In other news, major shareholder Hg Vora Capital Management, Ll purchased 3,850,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were acquired at an average price of $3.60 per share, for a total transaction of $13,860,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael G. Linn sold 4,060,082 shares of the business’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $3.60, for a total value of $14,616,295.20. The disclosure for this sale can be found here. 19.00% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in shares of Town Sports International Holdings by 6.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,249,400 shares of the company’s stock valued at $3,124,000 after buying an additional 71,459 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Town Sports International Holdings by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 353,617 shares of the company’s stock valued at $1,255,000 after buying an additional 7,852 shares during the period. Kennedy Capital Management Inc. boosted its position in shares of Town Sports International Holdings by 9.9% in the first quarter. Kennedy Capital Management Inc. now owns 212,537 shares of the company’s stock valued at $755,000 after buying an additional 19,230 shares during the period. Geode Capital Management LLC boosted its position in shares of Town Sports International Holdings by 0.4% in the first quarter. Geode Capital Management LLC now owns 103,999 shares of the company’s stock valued at $369,000 after buying an additional 462 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Town Sports International Holdings by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 35,984 shares of the company’s stock valued at $128,000 after buying an additional 2,220 shares during the period. 49.21% of the stock is owned by institutional investors and hedge funds.

About Town Sports International Holdings

Town Sports International Holdings, Inc is an owner and operator of fitness clubs in the Northeast and Mid-Atlantic regions of the United States fitness. As of December 31, 2016, the Company, through its subsidiaries, operated 150 fitness clubs (clubs). It owned and operated a total of 102 clubs under the New York Sports Clubs (NYSC) brand name within a 120-mile radius of New York City as of December 31, 2016, including 35 locations in Manhattan.

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