Townsquare Media, Inc. (NYSE:TSQ) Short Interest Update

Townsquare Media, Inc. (NYSE:TSQ) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 162,097 shares, a decrease of 35.2% from the July 30th total of 250,260 shares. Based on an average daily volume of 117,106 shares, the short-interest ratio is presently 1.4 days. Currently, 1.3% of the shares of the stock are sold short.

Insider Activity at Townsquare Media

In related news, CEO Bill Wilson sold 21,420 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $5.54, for a total transaction of $118,666.80. Following the completion of the transaction, the chief executive officer owned 2,979,061 shares in the company, valued at $16,503,997.94. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Erik Hellum sold 35,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total value of $225,400.00. Following the completion of the sale, the chief operating officer directly owned 914,542 shares in the company, valued at approximately $5,889,650.48. This represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 183,164 shares of company stock worth $1,055,101. Corporate insiders own 30.30% of the company’s stock.

Institutional Trading of Townsquare Media

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new stake in Townsquare Media in the second quarter valued at about $233,000. Gabelli Funds LLC boosted its holdings in Townsquare Media by 3.8% during the first quarter. Gabelli Funds LLC now owns 63,300 shares of the company’s stock worth $344,000 after buying an additional 2,300 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of Townsquare Media by 3.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock worth $2,088,000 after buying an additional 12,300 shares during the period. Cetera Investment Advisers acquired a new position in shares of Townsquare Media during the 1st quarter worth about $129,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Townsquare Media by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock valued at $249,000 after acquiring an additional 2,319 shares during the last quarter. 71.69% of the stock is owned by institutional investors.

Townsquare Media Trading Up 1.6%

Shares of Townsquare Media stock traded up $0.09 during midday trading on Wednesday, reaching $5.75. The company had a trading volume of 17,331 shares, compared to its average volume of 119,935. The stock has a fifty day simple moving average of $6.29 and a 200 day simple moving average of $6.40. Townsquare Media has a 1-year low of $4.30 and a 1-year high of $7.97. The company has a market capitalization of $104.82 million, a price-to-earnings ratio of -2.00 and a beta of 1.21.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $114.00 million for the quarter, compared to analyst estimates of $114.74 million. Townsquare Media had a negative return on equity of 5.59% and a negative net margin of 11.82%. Sell-side analysts expect that Townsquare Media will post 0.34 earnings per share for the current year.

Townsquare Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 26th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 13.9%. The ex-dividend date is Monday, October 26th. Townsquare Media’s dividend payout ratio (DPR) is presently -27.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Townsquare Media in a research note on Monday, May 11th. Zacks Research upgraded shares of Townsquare Media from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, Wall Street Zen cut Townsquare Media from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Townsquare Media Company Profile

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.