HG Vora Capital Management, LLC, a 10% owner of Town Sports International Holdings Inc. (NASDAQ:CLUB), purchased 353,614 shares of Common Stock yesterday, through a transaction executed over three days. All shares were bought indirectly, via the HG Vora Special Opportunities Master Fund, Ltd. The first purchase, which took place on Tuesday, consisted of 56,614 shares, for a price of $5.97 per share, while the second acquisition was of 100,000 shares for $6.28. The remaining 197,000 were bought yesterday, for $6.24 per share, and completed the insider purchase. This acquisition was also the first to be executed at Town Sports in fiscal 2014 and HG Vora now owns a total of 3.27 million shares of the $151 million market cap fitness enterprise.
On another note, this quarter was favourable for hedge funds invested in Town Sports, with many increasing the firm’s participation in their portfolio, such as the case with Brett Hendrickson’s Nokomis Capital, which increased its shareholder position by 22% and owns 626,444 shares, worth $5.3 million.