CLUB - Town Sports International Holdings, Inc.

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
1.8600
+0.0600 (+3.33%)
At close: 4:00PM EST
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Previous Close1.8000
Open1.8100
Bid1.8300 x 3200
Ask1.9100 x 1200
Day's Range1.7500 - 1.8850
52 Week Range1.1100 - 6.0700
Volume82,751
Avg. Volume151,309
Market Cap54.714M
Beta (5Y Monthly)1.34
PE Ratio (TTM)N/A
EPS (TTM)-0.4900
Earnings DateFeb 25, 2020 - Mar 01, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMay 19, 2014
1y Target Est3.00
  • Gym Chains Wrestle With Debt Even as Fitness Industry Is Growing
    Bloomberg

    Gym Chains Wrestle With Debt Even as Fitness Industry Is Growing

    (Bloomberg) -- It’s midday, mid-January at a New York Sports Club in Manhattan. Weights are clanking. Classic rock is pumping. Sweat is sprouting. A steady stream of customers files in and out.Despite the buzz of the busiest time of year, debt problems are bedeviling the fitness business, especially middle-market gym chains such as parent company Town Sports International Holdings Inc. and its peer, 24 Hour Fitness Worldwide Inc.Gyms have benefited from economic expansion. More Americans than ever have memberships. But popularity aside, middle-tier operators “don’t have the same price advantage of a low-cost gym or the competitive advantage of a boutique fitness option,” said Emile Courtney of S&P Global Ratings.They’re up against luxury operators like Equinox Holdings Inc., with its eucalyptus-scented towels and debt that trades at 100 cents on the dollar. By contrast, Town Sports and 24 Hour struggle with customer turnover and their loans are sold at discounts of more than 20%.“Personalization and tribalism are fueling the boutique demand, especially among millennials,” said Meredith Poppler of the trade group International Health, Racquet & Sportsclub Association. “Most people want to be with ‘their people,’ the people like them who have the same passions. Boutiques deliver on that.”Town Sports, with 600,000 members, has a $194 million loan due in November. Before its proposal earlier this month to buy Flywheel Sports Inc., an indoor cycling club with 300,000 members, Town Sports hadn’t outlined a plan to repay it, according to Margaret Taylor of Moody’s Investors Service.Delay MaturityBut the company can delay the loan’s maturity four years if it completes the acquisition. Kennedy Lewis Investment Management, the current Flywheel owner, would also bring $50 million to the transaction.The plan, however, is conditioned on the support of existing debt holders. Without their consent, the deal could fall apart and the company would be left with the loan’s November maturity.Ideally, adding Flywheel would give Town Sports the chance to boost revenue by selling members more expensive packages, according to S&P. Even so, the debt taken on to buy Flywheel would probably mean more financial strain on Town Sports, S&P said.Sweeten AppealThe Town Sports loan coming due this year is trading at about 76.5 cents on the dollar, according to data compiled by Bloomberg. Shares of the company, which hit $14.75 in July 2018, now go for less than $3.Town Sports didn’t respond to requests for comment.The Flywheel acquisition is also an effort to sweeten Town Sports’s appeal to boutique customers like 29-year-old Alexandra Antonacci-Bolanos. The medical-device executive from West Islip, New York, said she doesn’t mind paying more for fitness because it lifts her spirits. On top of $70 a month for a gym membership, she said she spends about $36 a class for SoulCycle -- a company under the same corporate umbrella as Equinox -- which is often described as a cardio dance party.“It’s my therapy,” she said.Rocky DebutClosely held 24 Hour Fitness, with more than 440 clubs, carries too much debt for what it earns, according to Taylor of Moody’s. The company reported a slide in earnings last year partly due to the rocky debut of an automated system for checking in and signing up customers. Its membership declined to 3.4 million at the end of the third quarter from 3.5 million in the previous quarter, according to Moody’s. Its average monthly attrition rate rose to 4.1% compared with 3.9% in the third quarter of last year.Cancellations are killers for gyms. It costs twice as much to recruit a new member as it does to retain an existing one. Roughly 28 of 100 U.S. gym members are expected to bail this year, according to the trade group.24 Hour Fitness’s more than $800 million term loan is trading at around 78 cents on the dollar, according to Bloomberg pricing data.“We see a tremendous opportunity in the mid-tier that hasn’t yet been realized,” Tony Ueber, 24 Hour Fitness’s chief executive officer, said in a statement to Bloomberg. “As a result, we are in the process of transforming our business model and making the necessary investments to firmly establish a leadership position in the industry.”Monthly FeesMeanwhile, shares of Planet Fitness Inc., with its $10 monthly fees and promise of “judgment-free zones,” have gained about 36% in the past year.Though S&P said last week it downgraded Equinox to B-, non-investment-grade territory, because its increased expenses make the company more vulnerable to an economic downturn or “an inadvertent operating misstep,” the credit-rating company also lauded Equinox’s “strong brand awareness among consumers” and customer loyalty that set it apart from competitors.Closely held Equinox said it planned to open 10 new clubs this year. It declined to comment on its financial position.Jonathan Germer, a 29-year-old teacher from Sayville, New York, said he’s involved in different approaches to fitness, including Crossfit Inc. He said he likes the sense of community of Peloton Interactive Inc., even though he shares no physical space with others.Germer said he spent just under $2,000 for a Peloton stationary bike and pays $40 a month for a digital membership that allows him to join streaming classes at home.“To be able to feel like you’re a part of something that feels bigger than small-time America is great for so many people,” Germer said. “It feels bigger than a little fitness world.”To contact the reporter on this story: Katherine Doherty in New York at kdoherty23@bloomberg.netTo contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Bob IvryFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Planet Fitness CEO: 'We are getting ready for our next explosive growth era'
    Yahoo Finance

    Planet Fitness CEO: 'We are getting ready for our next explosive growth era'

    Growth looks poised to continue for discount gym operator Planet Fitness, CEO Chris Rondeau tells Yahoo Finance.

  • Business Wire

    Town Sports International Holdings, Inc. Announces the Acquisition of Flywheel Sports, Inc.’s Studio Business

    TOWN SPORTS INTERNATIONAL HOLDINGS, INC. ANNOUNCES THE ACQUISITION OF FLYWHEEL SPORTS, INC.’S STUDIO BUSINESS

  • Here is What Hedge Funds Think About Town Sports International Holdings, Inc. (CLUB)
    Insider Monkey

    Here is What Hedge Funds Think About Town Sports International Holdings, Inc. (CLUB)

    We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]

  • Is There Now An Opportunity In Town Sports International Holdings, Inc. (NASDAQ:CLUB)?
    Simply Wall St.

    Is There Now An Opportunity In Town Sports International Holdings, Inc. (NASDAQ:CLUB)?

    Town Sports International Holdings, Inc. (NASDAQ:CLUB), which is in the hospitality business, and is based in United...

  • Barrons.com

    The Holidays Mean Overindulgence. The New Year Belongs to the Fitness Industry.

    It happens every year: Everyone overindulges for the holidays, then tries to lose weight in the new year. That’s a challenge and an opportunity for the fitness industry.

  • Town Sports (CLUB) Reports Q3 Loss, Lags Revenue Estimates
    Zacks

    Town Sports (CLUB) Reports Q3 Loss, Lags Revenue Estimates

    Town Sports (CLUB) delivered earnings and revenue surprises of -54.55% and -0.96%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • What Kind Of Shareholders Own Town Sports International Holdings, Inc. (NASDAQ:CLUB)?
    Simply Wall St.

    What Kind Of Shareholders Own Town Sports International Holdings, Inc. (NASDAQ:CLUB)?

    If you want to know who really controls Town Sports International Holdings, Inc. (NASDAQ:CLUB), then you'll have to...

  • Town Sports (CLUB) May Report Negative Earnings: Know the Trend Ahead of Q3 Release
    Zacks

    Town Sports (CLUB) May Report Negative Earnings: Know the Trend Ahead of Q3 Release

    Town Sports (CLUB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Have Insiders Been Buying Town Sports International Holdings, Inc. (NASDAQ:CLUB) Shares This Year?
    Simply Wall St.

    Have Insiders Been Buying Town Sports International Holdings, Inc. (NASDAQ:CLUB) Shares This Year?

    We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...

  • Does Town Sports International Holdings, Inc. (NASDAQ:CLUB) Have A Particularly Volatile Share Price?
    Simply Wall St.

    Does Town Sports International Holdings, Inc. (NASDAQ:CLUB) Have A Particularly Volatile Share Price?

    Anyone researching Town Sports International Holdings, Inc. (NASDAQ:CLUB) might want to consider the historical...

  • Town Sports (CLUB) Reports Q2 Loss, Misses Revenue Estimates
    Zacks

    Town Sports (CLUB) Reports Q2 Loss, Misses Revenue Estimates

    Town Sports (CLUB) delivered earnings and revenue surprises of -150.00% and -0.72%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Analysts Estimate Town Sports (CLUB) to Report a Decline in Earnings: What to Look Out for
    Zacks

    Analysts Estimate Town Sports (CLUB) to Report a Decline in Earnings: What to Look Out for

    Town Sports (CLUB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • If You Had Bought Town Sports International Holdings (NASDAQ:CLUB) Stock A Year Ago, You'd Be Sitting On A 83% Loss, Today
    Simply Wall St.

    If You Had Bought Town Sports International Holdings (NASDAQ:CLUB) Stock A Year Ago, You'd Be Sitting On A 83% Loss, Today

    This week we saw the Town Sports International Holdings, Inc. (NASDAQ:CLUB) share price climb by 11%. But that is...

  • Is Town Sports International Holdings, Inc. (CLUB) A Good Stock To Buy ?
    Insider Monkey

    Is Town Sports International Holdings, Inc. (CLUB) A Good Stock To Buy ?

    Based on the fact that hedge funds have collectively under-performed the market for several years, it would be easy to assume that their stock picks simply aren't very good. However, our research shows this not to be the case. In fact, when it comes to their very top picks collectively, they show a strong ability […]

  • How Much Of Town Sports International Holdings, Inc. (NASDAQ:CLUB) Do Insiders Own?
    Simply Wall St.

    How Much Of Town Sports International Holdings, Inc. (NASDAQ:CLUB) Do Insiders Own?

    Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! A look at the shareholders of Town Sports International Holdings, Inc. (NASDAQ:CLUB) can tell us whic...

  • Associated Press

    Town Sports: 1Q Earnings Snapshot

    The Jupiter, Florida-based company said it had a loss of 8 cents per share. The sports club operator posted revenue of $116.6 million in the period. In the final minutes of trading on Thursday, the company's ...

  • Business Wire

    Town Sports International Holdings, Inc. Reports First Quarter 2019 Results

    Town Sports International Holdings, Inc. today reported results for the first quarter of 2019.