Town Sports International (NASDAQ:CLUB) Lifted to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Town Sports International (NASDAQ:CLUB) from a sell rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

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. “

Several other equities analysts have also issued reports on the company. ValuEngine raised Town Sports International from a sell rating to a hold rating in a research note on Tuesday, March 26th. Imperial Capital reissued an outperform rating and set a $5.50 target price (down previously from $11.00) on shares of Town Sports International in a research note on Tuesday, April 30th. Finally, TheStreet lowered Town Sports International from a c- rating to a d rating in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $5.50.

CLUB opened at $2.75 on Monday. Town Sports International has a 12-month low of $2.43 and a 12-month high of $14.85.

Town Sports International (NASDAQ:CLUB) last posted its earnings results on Thursday, April 25th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.13). Town Sports International had a negative return on equity of 0.10% and a negative net margin of 0.69%. The firm had revenue of $116.60 million for the quarter, compared to analyst estimates of $114.63 million. As a group, equities analysts predict that Town Sports International will post -0.22 earnings per share for the current year.

In related news, insider Pw Partners Atlas Fund Iii, Lp purchased 38,303 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $5.36 per share, for a total transaction of $205,304.08. Following the acquisition, the insider now directly owns 1,840,806 shares in the company, valued at $9,866,720.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Walsh purchased 125,123 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were bought at an average price of $3.57 per share, for a total transaction of $446,689.11. Following the acquisition, the chief executive officer now owns 1,965,929 shares in the company, valued at $7,018,366.53. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 452,002 shares of company stock worth $1,695,011. 13.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Town Sports International by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 875,641 shares of the company’s stock worth $7,575,000 after purchasing an additional 63,306 shares during the period. BlackRock Inc. increased its holdings in Town Sports International by 2.9% during the 4th quarter. BlackRock Inc. now owns 812,052 shares of the company’s stock worth $5,197,000 after purchasing an additional 23,008 shares during the period. Dimensional Fund Advisors LP increased its holdings in Town Sports International by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 714,220 shares of the company’s stock worth $3,400,000 after purchasing an additional 10,849 shares during the period. Rothschild Investment Corp IL increased its holdings in Town Sports International by 15.3% during the 1st quarter. Rothschild Investment Corp IL now owns 460,641 shares of the company’s stock worth $2,193,000 after purchasing an additional 61,250 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Town Sports International by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 235,080 shares of the company’s stock valued at $1,504,000 after acquiring an additional 6,963 shares during the last quarter. Institutional investors own 72.33% of the company’s stock.

Town Sports International Company Profile

Town Sports International Holdings, Inc, together with its subsidiaries, owns and operates fitness clubs in the Northeast and Mid-Atlantic regions of the United States. The company's clubs offer special purpose rooms for group fitness classes; and other exercise programs, as well as accommodate cardiovascular and strength-training equipment.

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