Town Sports International (CLUB) Downgraded by ValuEngine

ValuEngine downgraded shares of Town Sports International (NASDAQ:CLUB) from a hold rating to a sell rating in a research report released on Wednesday, May 1st, ValuEngine reports.

CLUB has been the topic of several other reports. Zacks Investment Research upgraded shares of Town Sports International from a strong sell rating to a hold rating in a research report on Tuesday, January 1st. Imperial Capital reissued an outperform rating and issued a $5.50 price target (down previously from $11.00) on shares of Town Sports International in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average target price of $5.50.

Shares of NASDAQ CLUB opened at $2.97 on Wednesday. Town Sports International has a fifty-two week low of $2.90 and a fifty-two week high of $14.85.

Town Sports International (NASDAQ:CLUB) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.08) EPS for the quarter, missing the 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 business had revenue of $116.60 million during the quarter, compared to the consensus estimate of $114.63 million. As a group, equities research analysts forecast that Town Sports International will post -0.22 earnings per share for the current year.

In other Town Sports International news, CEO Patrick Walsh bought 125,123 shares of the stock in a transaction on Tuesday, April 30th. The shares were bought at an average price of $3.57 per share, with a total value of $446,689.11. Following the purchase, the chief executive officer now directly owns 1,965,929 shares in the company, valued at approximately $7,018,366.53. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Carolyn Spatafora sold 38,333 shares of Town Sports International stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $5.62, for a total value of $215,431.46. Following the sale, the chief financial officer now owns 93,333 shares of the company’s stock, valued at $524,531.46. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 452,002 shares of company stock worth $1,695,011 and have sold 99,543 shares worth $545,305. Insiders own 13.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in Town Sports International during the 1st quarter worth about $178,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Town Sports International by 30.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 76,369 shares of the company’s stock valued at $364,000 after purchasing an additional 17,720 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Town Sports International by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 714,220 shares of the company’s stock valued at $3,400,000 after purchasing an additional 10,849 shares during the period. Alambic Investment Management L.P. acquired a new position in shares of Town Sports International in the 1st quarter valued at about $54,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Town Sports International by 128.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,450 shares of the company’s stock valued at $40,000 after purchasing an additional 4,750 shares during the period. Institutional investors and hedge funds own 70.43% of the company’s stock.

About Town Sports International

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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