Town Sports International Holdings, Inc. (NASDAQ:CLUB) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 1,220,000 shares, a drop of 19.7% from the December 15th total of 1,520,000 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average daily volume of 148,800 shares, the days-to-cover ratio is presently 8.2 days.

Shares of NASDAQ CLUB opened at $2.96 on Tuesday. Town Sports International has a 1-year low of $1.11 and a 1-year high of $6.34. The stock’s 50-day moving average is $1.85 and its 200 day moving average is $1.79.

Town Sports International (NASDAQ:CLUB) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.33). The company had revenue of $115.50 million during the quarter, compared to the consensus estimate of $116.61 million. As a group, equities analysts expect that Town Sports International will post -0.42 earnings per share for the current year.

Several analysts have weighed in on CLUB shares. Zacks Investment Research raised Town Sports International from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine raised Town Sports International from a “hold” rating to a “buy” rating in a report on Friday, January 3rd.

In other Town Sports International news, major shareholder Hg Vora Capital Management, Ll sold 2,800,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $1.50, for a total value of $4,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Walsh purchased 4,300,000 shares of the stock in a transaction on Friday, January 3rd. The stock was acquired at an average cost of $1.50 per share, for a total transaction of $6,450,000.00. Following the acquisition, the chief executive officer now owns 8,702,499 shares in the company, valued at $13,053,748.50. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 7,001,884 shares of company stock valued at $10,503,297. 13.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CLUB. A.R.T. Advisors LLC purchased a new position in shares of Town Sports International during the 2nd quarter valued at about $29,000. Meeder Asset Management Inc. raised its holdings in shares of Town Sports International by 3,383.1% during the 3rd 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 in the last quarter. Jefferies Group LLC purchased a new position in shares of Town Sports International during the 2nd quarter valued at about $39,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Town Sports International during the 2nd quarter valued at about $104,000. Finally, Paloma Partners Management Co bought a new position in Town Sports International during the 2nd quarter worth approximately $140,000. 61.36% of the stock is currently owned by institutional investors.

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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