Town Sports International Holdings, Inc. (NASDAQ:CLUB) Reaches New 52-Week High on Earnings Beat

Town Sports International Holdings, Inc. (NASDAQ:CLUB) hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $5.20 and last traded at $5.20, with a volume of 80,614 shares trading hands. The stock had previously closed at $4.90.

The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.12. The business had revenue of $99.99 million for the quarter, compared to the consensus estimate of $98.68 million.

Separately, Zacks Investment Research raised Town Sports International Holdings from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Tuesday, May 2nd.

In other news, insider Michael G. Linn sold 4,060,082 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $3.60, for a total value of $14,616,295.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hg Vora Capital Management, Ll acquired 3,850,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was bought at an average cost of $3.60 per share, with a total value of $13,860,000.00. The disclosure for this purchase can be found here. Corporate insiders own 19.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Town Sports International Holdings by 6.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,249,400 shares of the company’s stock valued at $3,124,000 after buying an additional 71,459 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in Town Sports International Holdings by 9.9% in the first quarter. Kennedy Capital Management Inc. now owns 212,537 shares of the company’s stock valued at $755,000 after buying an additional 19,230 shares during the last quarter. Acadian Asset Management LLC increased its stake in Town Sports International Holdings by 340.7% in 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 last quarter. Dimensional Fund Advisors LP increased its stake in Town Sports International Holdings by 2.3% in 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 last quarter. Finally, Bank of New York Mellon Corp increased its stake in Town Sports International Holdings by 6.6% in 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 last quarter. 49.21% of the stock is owned by institutional investors.

The company’s 50 day moving average is $4.52 and its 200-day moving average is $3.75. The company has a market capitalization of $133.75 million, a P/E ratio of 11.52 and a beta of 2.98.

ILLEGAL ACTIVITY NOTICE: This story was first published by [[site]] and is owned by of [[site]]. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at [[permalink]].

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.