Townsquare Media, Inc. (NYSE:TSQ) Sees Significant Drop in Short Interest

Townsquare Media, Inc. (NYSE:TSQ) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 74,000 shares, a decline of 42.0% from the August 31st total of 127,500 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 93,100 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 93,100 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.6% of the shares of the stock are short sold.

Townsquare Media Price Performance

Shares of NYSE TSQ opened at $6.49 on Friday. The company has a 50 day simple moving average of $6.93 and a 200 day simple moving average of $7.20. The firm has a market cap of $106.61 million, a PE ratio of 3.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. Townsquare Media has a 1 year low of $6.47 and a 1 year high of $10.79.

Townsquare Media (NYSE:TSQ) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $115.45 million for the quarter, compared to analysts’ expectations of $114.77 million. Townsquare Media had a net margin of 7.93% and a negative return on equity of 56.87%. As a group, research analysts anticipate that Townsquare Media will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Monday, October 27th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $0.80 annualized dividend and a dividend yield of 12.3%. Townsquare Media’s dividend payout ratio is presently 39.60%.

Analyst Ratings Changes

Several brokerages recently commented on TSQ. Weiss Ratings reissued a “hold (c-)” rating on shares of Townsquare Media in a research note on Saturday, September 27th. Barrington Research reiterated an “outperform” rating and set a $13.00 price target on shares of Townsquare Media in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Insider Activity at Townsquare Media

In related news, Director Stephen A. Kaplan bought 10,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $6.92 per share, with a total value of $69,200.00. Following the completion of the acquisition, the director owned 208,618 shares of the company’s stock, valued at $1,443,636.56. The trade was a 5.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 30.50% of the company’s stock.

Hedge Funds Weigh In On Townsquare Media

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Townsquare Media in the second quarter worth approximately $33,000. Copeland Capital Management LLC raised its holdings in Townsquare Media by 73.4% during the 1st quarter. Copeland Capital Management LLC now owns 6,753 shares of the company’s stock worth $55,000 after purchasing an additional 2,859 shares during the last quarter. Hsbc Holdings PLC bought a new position in Townsquare Media during the 1st quarter worth approximately $86,000. Occudo Quantitative Strategies LP acquired a new position in shares of Townsquare Media in the 2nd quarter worth approximately $101,000. Finally, Ancora Advisors LLC bought a new stake in shares of Townsquare Media in the 1st quarter valued at $122,000. 71.69% of the stock is currently owned by institutional investors.

Townsquare Media Company Profile

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.