Is Town Sports International Holdings, Inc. (CLUB) A Good Buy On CEO Exit Surge?

How have hedgies been trading Town Sports International Holdings, Inc. (NASDAQ:CLUB)?

By the end of the first quarter of 2015, a total of 10 of the hedge funds tracked by Insider Monkey were long in this stock. This is a change of +11% from the fourth quarter.

Looking at the database of hedge funds followed by Insider Monkey, Thomas Steyer’s Farallon Capital had the number one position in Town Sports International Holdings, Inc. (NASDAQ:CLUB) in the first quarter of the year, worth close to $27.6 million. This stake made up 0.4% of Farallon Capital’s total 13F portfolio. Parag Vora of HG Vora Capital Management comes in at second with a $26.4 million position or 3.3% of the fund’s 13F portfolio. Remaining peers that hold long positions include Jim Simons’ Renaissance Technologies, Brian C. Freckmann’s Lyon Street Capital and D.E. Shaw & Co, founded by D.E Shaw.

With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. Nine Chapters Capital Management, managed by Chao Ku, initiated the most outsized position in Town Sports International Holdings, Inc. Nine Chapters Capital Management had $277,000 invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $77,000 investment in the stock during the quarter. The only other fund with a new position in the stock is Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

With positive hedge fund sentiment in Town Sports International Holdings, Inc. (NASDAQ:CLUB) and market optimism over a change in management, we recommend buying into the shares.

Disclosure: None