Zacks Investment Research Downgrades Town Sports International Holdings, Inc. (CLUB) to Strong Sell

Town Sports International Holdings, Inc. (NASDAQ:CLUB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.

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, Imperial Capital reiterated an “outperform” rating and set a $7.50 target price (up from $5.00) on shares of Town Sports International Holdings in a research report on Monday, July 31st.

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In other news, Director Louis Spencer Wells sold 6,000 shares of Town Sports International Holdings stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $5.90, for a total transaction of $35,400.00. Following the completion of the sale, the director now directly owns 21,235 shares in the company, valued at $125,286.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.00% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in CLUB. Renaissance Technologies LLC increased its stake in shares of Town Sports International Holdings by 5.4% during the first quarter. Renaissance Technologies LLC now owns 1,317,100 shares of the company’s stock valued at $4,676,000 after buying an additional 67,700 shares during the period. Acadian Asset Management LLC increased its stake in shares of Town Sports International Holdings by 340.7% during the second quarter. Acadian Asset Management LLC now owns 33,055 shares of the company’s stock valued at $155,000 after buying an additional 25,555 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Town Sports International Holdings by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 353,617 shares of the company’s stock valued at $1,255,000 after buying an additional 7,852 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Town Sports International Holdings by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 35,984 shares of the company’s stock valued at $128,000 after buying an additional 2,220 shares during the period. Finally, Kennedy Capital Management Inc. increased its stake in shares of Town Sports International Holdings by 1.0% during the second quarter. Kennedy Capital Management Inc. now owns 214,626 shares of the company’s stock valued at $1,009,000 after buying an additional 2,089 shares during the period. Hedge funds and other institutional investors own 51.00% of the company’s stock.

About Town Sports International Holdings

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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