Zacks Investment Research upgraded shares of Town Sports International (NASDAQ:CLUB) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning.

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, ValuEngine raised Town Sports International from a sell rating to a hold rating in a research report on Sunday, December 31st.

Town Sports International (NASDAQ:CLUB) opened at $5.60 on Monday. The stock has a market capitalization of $148.75, a PE ratio of -8.89 and a beta of 3.03. The company has a debt-to-equity ratio of -1.95, a current ratio of 0.95 and a quick ratio of 0.94. Town Sports International has a 12-month low of $2.50 and a 12-month high of $7.15.

In other news, CFO Carolyn Spatafora sold 11,546 shares of Town Sports International stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $5.74, for a total transaction of $66,274.04. Following the transaction, the chief financial officer now directly owns 218,729 shares of the company’s stock, valued at approximately $1,255,504.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle Ryan sold 11,316 shares of Town Sports International stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $5.98, for a total value of $67,669.68. Following the transaction, the insider now directly owns 18,333 shares in the company, valued at $109,631.34. The disclosure for this sale can be found here. Insiders sold 29,097 shares of company stock worth $170,174 over the last three months. Insiders own 19.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of CLUB. Cubist Systematic Strategies LLC purchased a new position in shares of Town Sports International during the 3rd quarter valued at about $105,000. JPMorgan Chase & Co. lifted its position in shares of Town Sports International by 3,416.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,581 shares of the company’s stock valued at $120,000 after buying an additional 17,081 shares in the last quarter. Northern Trust Corp lifted its position in shares of Town Sports International by 1.7% during the 2nd quarter. Northern Trust Corp now owns 48,863 shares of the company’s stock valued at $230,000 after buying an additional 838 shares in the last quarter. Algert Global LLC purchased a new position in shares of Town Sports International during the 3rd quarter valued at about $324,000. Finally, GSA Capital Partners LLP lifted its position in shares of Town Sports International by 25.6% during the 3rd quarter. GSA Capital Partners LLP now owns 70,211 shares of the company’s stock valued at $491,000 after buying an additional 14,300 shares in the last quarter. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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About Town Sports International

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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