Parag Vora, the manager of HG Vora Capital Management, is optimistic about the prospects of Town Sports International Holdings, Inc. (NASDAQ:CLUB) and has initiated a new position. In a recent filing with the Securities and Exchange Commission, HG Vora Capital has revealed the acquisition of 1.3 million shares, which account for approximately 5.4% of the total number of shares outstanding.
Jim Simons is also keen on Town Sports International Holdings, Inc. (NASDAQ:CLUB), having increased his fund’s stake by 14% during the Q4 of 2013. In its latest 13F filing, Renaissance Technologies reported ownership of 856,000 shares valued at $12.6 million. Thomas Steyer is also keeping tabs with his fund, Farallon Capital, holding 4.06 million shares reportedly worth $59.9 million.
An operator of fitness clubs in the United States, Town Sports International Holdings, Inc. (NASDAQ:CLUB) has a market cap of $205 million and pays an annual dividend of $0.32 per share, which represents a yield of 3.8%. The stock is traded at a trailing Price to Earnings (P/E) ratio of 17.xx, significantly lower than the industry average of 27.80. For the three months ending December 31, 2013, the company has posted revenues of $114 million and earnings per share of $0.00. 2014 first quarter is expected to bring $117 million in revenues and earnings of $0.01 per share.
Mr. Vora and his fund have recently upped their interest in Ashford Hospitality Trust, Inc. (NYSE:AHT) through the addition of 3.65 million shares, taking the fund’s total holding to some 5.0 million shares or 6.2% of the company’s common stock. Vora also has high hopes for Pinnacle Entertainment, Inc (NYSE:PNK) with his fund holding 3.4 million shares worth approximately $88.3 million, according to the fund’s latest 13F filing. He is also betting big on Northstar Realty Finance Corp. (NYSE:NRF) and has bought 4.4 million shares during the fourth quarter of 2013.
Disclosure: none.
Recommended reading:
HG Vora Capital Management, Parag Vora Up Their Stake in Ashford Hospitality Trust, Inc. (AHT)
