Town Sports International Holdings, Inc. (CLUB) Raised to “Buy” at Zacks Investment Research
Town Sports International Holdings, Inc. (NASDAQ:CLUB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $6.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.11% from the stock’s current price.
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 reaffirmed an “outperform” rating and set a $7.50 price target (up from $5.00) on shares of Town Sports International Holdings in a research report on Monday.
Town Sports International Holdings (NASDAQ:CLUB) traded up 0.93% during midday trading on Wednesday, hitting $5.40. The stock had a trading volume of 51,538 shares. The stock’s market capitalization is $144.10 million. Town Sports International Holdings has a 52 week low of $2.10 and a 52 week high of $5.65. The company’s 50 day moving average price is $4.60 and its 200-day moving average price is $3.81.
Town Sports International Holdings (NASDAQ:CLUB) last issued its quarterly earnings data on Thursday, July 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.12. The company had revenue of $99.99 million during the quarter, compared to analysts’ expectations of $98.68 million. Equities analysts anticipate that Town Sports International Holdings will post ($0.49) earnings per share for the current fiscal year.
In related news, major shareholder Hg Vora Capital Management, Ll acquired 3,850,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were purchased at an average price of $3.60 per share, for a total transaction of $13,860,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael G. Linn sold 4,060,082 shares of Town Sports International Holdings stock in a transaction dated Monday, June 19th. The stock was 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. Company insiders own 19.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLUB. Renaissance Technologies LLC boosted 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 valued at $3,124,000 after buying an additional 71,459 shares during the last quarter. Kennedy Capital Management Inc. boosted 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 valued at $755,000 after buying an additional 19,230 shares during the last quarter. Acadian Asset Management LLC boosted 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 valued at $155,000 after buying an additional 25,555 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $1,255,000 after buying an additional 7,852 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted 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 valued at $128,000 after buying an additional 2,220 shares during the last quarter. Hedge funds and other institutional investors own 49.30% of the company’s stock.
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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