Town Sports International Holdings, Inc. (NASDAQ:CLUB) Sees Large Drop in Short Interest

Town Sports International Holdings, Inc. (NASDAQ:CLUB) was the target of a large decrease in short interest in the month of November. As of November 29th, there was short interest totalling 1,680,000 shares, a decrease of 22.6% from the November 14th total of 2,170,000 shares. Approximately 6.8% of the company’s shares are short sold. Based on an average trading volume of 129,700 shares, the short-interest ratio is currently 13.0 days.

NASDAQ CLUB opened at $1.78 on Friday. Town Sports International has a one year low of $1.11 and a one year high of $6.74. The company’s 50 day moving average price is $1.69 and its 200 day moving average price is $1.89.

Town Sports International (NASDAQ:CLUB) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.33). The company had revenue of $115.50 million for the quarter, compared to analysts’ expectations of $116.61 million. Equities research analysts predict that Town Sports International will post -0.42 EPS for the current year.

Several research analysts have recently weighed in on CLUB shares. Imperial Capital set a $3.00 price objective on shares of Town Sports International and gave the stock a “buy” rating in a report on Tuesday, August 20th. Zacks Investment Research upgraded shares of Town Sports International from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

In related news, CEO Patrick Walsh acquired 16,607 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $1.96 per share, for a total transaction of $32,549.72. Following the acquisition, the chief executive officer now directly owns 2,500,434 shares in the company, valued at approximately $4,900,850.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Hg Vora Capital Management, Ll sold 2,800,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $1.50, for a total transaction of $4,200,000.00. The disclosure for this sale can be found here. Corporate insiders own 13.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alambic Investment Management L.P. raised its holdings in Town Sports International by 115.3% in the second quarter. Alambic Investment Management L.P. now owns 24,362 shares of the company’s stock valued at $53,000 after buying an additional 13,045 shares during the period. A.R.T. Advisors LLC purchased a new position in Town Sports International in the second quarter valued at approximately $29,000. Jefferies Group LLC purchased a new position in Town Sports International in the second quarter valued at approximately $39,000. Meeder Asset Management Inc. raised its holdings in Town Sports International by 3,383.1% in the third quarter. Meeder Asset Management Inc. now owns 20,376 shares of the company’s stock valued at $34,000 after buying an additional 19,791 shares during the period. Finally, Menta Capital LLC raised its holdings in Town Sports International by 120.4% in the second quarter. Menta Capital LLC now owns 51,221 shares of the company’s stock valued at $111,000 after buying an additional 27,982 shares during the period. Hedge funds and other institutional investors own 61.54% 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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