Town Sports International Holdings, Inc. (NASDAQ:CLUB) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Town Sports International Holdings, Inc. (NASDAQ:CLUB) from a hold rating to a buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $6.00 price objective on the stock.
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. “
Separately, Imperial Capital reiterated an outperform rating and set a $7.50 price objective (up from $5.00) on shares of Town Sports International Holdings in a report on Monday, July 31st.
Shares of Town Sports International Holdings (NASDAQ CLUB) traded up 2.68% during midday trading on Wednesday, hitting $5.75. 121,562 shares of the company’s stock were exchanged. Town Sports International Holdings has a one year low of $2.10 and a one year high of $5.85. The stock’s 50-day moving average price is $4.60 and its 200 day moving average price is $3.81. The firm’s market cap is $145.13 million.
Town Sports International Holdings (NASDAQ:CLUB) last released its earnings results on Thursday, July 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.12. The firm had revenue of $99.99 million during the quarter, compared to analysts’ expectations of $98.68 million. Equities research analysts forecast that Town Sports International Holdings will post ($0.24) EPS for the current year.
In related news, major shareholder Hg Vora Capital Management, Ll acquired 3,850,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were acquired at an average cost of $3.60 per share, for a total transaction of $13,860,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael G. Linn sold 4,060,082 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $3.60, for a total transaction of $14,616,295.20. The disclosure for this sale can be found here. Corporate insiders own 19.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CLUB. Acadian Asset Management LLC increased its stake in Town Sports International Holdings by 340.7% in the second quarter. Acadian Asset Management LLC now owns 33,055 shares of the company’s stock worth $155,000 after buying an additional 25,555 shares during the period. Bank of New York Mellon Corp increased its stake in 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 worth $128,000 after buying an additional 2,220 shares during the period. Kennedy Capital Management Inc. increased its stake in 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 worth $755,000 after buying an additional 19,230 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 worth $1,255,000 after buying an additional 7,852 shares during the period. Finally, Renaissance Technologies LLC increased its stake in 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 worth $3,124,000 after buying an additional 71,459 shares during the period. Institutional investors and hedge funds own 49.30% of the company’s stock.
Town Sports International Holdings Company Profile
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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