Town Sports International Holdings, Inc. (NASDAQ:CLUB) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,090,000 shares, a drop of 10.7% from the January 15th total of 1,220,000 shares. Approximately 5.4% of the shares of the company are short sold. Based on an average daily volume of 165,400 shares, the short-interest ratio is currently 6.6 days.
In other Town Sports International news, CEO Patrick Walsh bought 21,508 shares of Town Sports International stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $1.76 per share, for a total transaction of $37,854.08. Following the completion of the purchase, the chief executive officer now directly owns 2,521,942 shares of the company’s stock, valued at $4,438,617.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Hg Vora Capital Management, Ll sold 2,800,000 shares of Town Sports International 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. Insiders sold 7,004,567 shares of company stock valued at $10,510,541 in the last quarter. Corporate insiders own 13.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. Morgan Stanley grew its stake in Town Sports International by 6,018.2% during the second quarter. Morgan Stanley now owns 270,606 shares of the company’s stock valued at $587,000 after acquiring an additional 266,183 shares in the last quarter. Vanguard Group Inc. grew its stake in Town Sports International by 7.7% during the second quarter. Vanguard Group Inc. now owns 851,458 shares of the company’s stock valued at $1,847,000 after acquiring an additional 60,887 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Town Sports International by 3,383.1% during the third quarter. Meeder Asset Management Inc. now owns 20,376 shares of the company’s stock valued at $34,000 after acquiring an additional 19,791 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Town Sports International during the first quarter valued at approximately $178,000. 60.64% of the stock is owned by institutional investors.
Several equities analysts recently commented on CLUB shares. ValuEngine raised shares of Town Sports International from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Zacks Investment Research raised shares of Town Sports International from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 8th.
NASDAQ:CLUB traded down $0.04 during mid-day trading on Friday, hitting $1.80. 21,800 shares of the stock traded hands, compared to its average volume of 184,558. The business’s 50-day moving average price is $2.21 and its 200 day moving average price is $1.82. The company has a market cap of $51.80 million, a PE ratio of -3.75 and a beta of 1.32. Town Sports International has a 12-month low of $1.11 and a 12-month high of $6.07.
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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