Town Sports International (CLUB) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Town Sports International (NASDAQ:CLUB) from a hold rating to a sell rating in a research note released on Tuesday morning.

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.

Shares of Town Sports International (NASDAQ:CLUB) remained flat at $$5.90 on Tuesday. 65,365 shares of the stock were exchanged, compared to its average volume of 49,856. Town Sports International has a 12-month low of $2.60 and a 12-month high of $7.15. 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 stock has a market capitalization of $157.42, a P/E ratio of -9.37 and a beta of 3.03.

In other news, insider Michelle Ryan sold 11,316 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 18,333 shares in the company, valued at approximately $109,631.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Carolyn Spatafora sold 11,546 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were 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 in the company, valued at $1,255,504.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,097 shares of company stock worth $170,174. Corporate insiders own 19.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Town Sports International by 22.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 441,487 shares of the company’s stock valued at $3,090,000 after purchasing an additional 81,708 shares during the period. Kennedy Capital Management Inc. grew its stake in shares of Town Sports International by 1.0% in the 2nd quarter. Kennedy Capital Management Inc. now owns 214,626 shares of the company’s stock valued at $1,009,000 after purchasing an additional 2,089 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Town Sports International in the 3rd quarter valued at approximately $1,058,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of Town Sports International in the 3rd quarter valued at approximately $1,045,000. Finally, EAM Investors LLC bought a new stake in shares of Town Sports International in the 3rd quarter valued at approximately $817,000. 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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