Zacks Investment Research downgraded shares of Town Sports International (NASDAQ:CLUB) from a hold rating to a sell rating in a research report released on Tuesday, January 9th.
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, ValuEngine upgraded Town Sports International from a sell rating to a hold rating in a research note on Sunday, December 31st.
Town Sports International (NASDAQ:CLUB) last released its quarterly earnings data on Thursday, October 26th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.28). equities analysts expect that Town Sports International will post -0.64 earnings per share for the current fiscal year.
In related news, CFO Carolyn Spatafora sold 11,546 shares of Town Sports International stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $5.74, for a total value of $66,274.04. Following the completion of the sale, the chief financial officer now owns 218,729 shares of the company’s stock, valued at $1,255,504.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michelle Ryan sold 11,316 shares of Town Sports International stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $5.98, for a total value of $67,669.68. Following the completion of the sale, the insider now directly owns 18,333 shares of the company’s stock, valued at approximately $109,631.34. The disclosure for this sale can be found here. In the last three months, insiders sold 29,097 shares of company stock valued at $170,174. Corporate insiders own 19.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in shares of Town Sports International in the third quarter valued at about $105,000. JPMorgan Chase & Co. lifted its position in shares of Town Sports International by 3,416.2% in the third quarter. JPMorgan Chase & Co. now owns 17,581 shares of the company’s stock valued at $120,000 after acquiring an additional 17,081 shares in the last quarter. Algert Global LLC purchased a new position in shares of Town Sports International in the third quarter valued at about $324,000. Northern Trust Corp lifted its position in shares of Town Sports International by 1.7% in the second quarter. Northern Trust Corp now owns 48,863 shares of the company’s stock valued at $230,000 after acquiring an additional 838 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Town Sports International by 25.6% in the third quarter. GSA Capital Partners LLP now owns 70,211 shares of the company’s stock valued at $491,000 after acquiring an additional 14,300 shares in the last quarter. 54.24% of the stock is owned by institutional investors and hedge funds.
About Town Sports International
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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