Zacks Investment Research Downgrades Town Sports International (CLUB) to Sell

Town Sports International (NASDAQ:CLUB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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 raised shares of Town Sports International from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st.

Town Sports International (NASDAQ CLUB) traded down $0.05 during trading on Tuesday, reaching $5.75. 44,800 shares of the company’s stock traded hands, compared to its average volume of 47,800. The company has a debt-to-equity ratio of -1.95, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market capitalization of $153.42, a P/E ratio of -9.13 and a beta of 3.03. Town Sports International has a 52-week low of $2.60 and a 52-week high of $7.15.

In other Town Sports International news, CFO Carolyn Spatafora sold 11,546 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $5.74, for a total transaction of $66,274.04. Following the completion of the sale, the chief financial officer now directly owns 218,729 shares in the company, valued at $1,255,504.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle Ryan sold 11,316 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $5.98, for a total transaction of $67,669.68. Following the sale, the insider now owns 18,333 shares of the company’s stock, valued at $109,631.34. The disclosure for this sale can be found here. Insiders have sold 29,097 shares of company stock worth $170,174 over the last three months. Company insiders own 19.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its holdings in Town Sports International by 25.6% during 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 during the period. Algert Global LLC bought a new stake in Town Sports International during the third quarter valued at about $324,000. Cubist Systematic Strategies LLC bought a new stake in Town Sports International during the third quarter valued at about $105,000. Dimensional Fund Advisors LP boosted its holdings in Town Sports International by 22.7% during the third quarter. Dimensional Fund Advisors LP now owns 441,487 shares of the company’s stock valued at $3,090,000 after acquiring an additional 81,708 shares during the period. Finally, Mckinley Capital Management LLC Delaware bought a new stake in Town Sports International during the third quarter valued at about $1,045,000. Institutional investors own 54.24% of the company’s stock.

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Town Sports International 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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