Townsquare Media, Inc. (NYSE:TSQ) Sees Large Increase in Short Interest

Townsquare Media, Inc. (NYSE:TSQ) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 173,704 shares, an increase of 64.9% from the December 31st total of 105,338 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 60,604 shares, the days-to-cover ratio is currently 2.9 days. Based on an average daily volume of 60,604 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.5% of the shares of the stock are sold short.

Insider Activity at Townsquare Media

In other news, COO Erik Hellum sold 6,522 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $5.57, for a total value of $36,327.54. Following the completion of the sale, the chief operating officer directly owned 969,648 shares in the company, valued at approximately $5,400,939.36. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 19,652 shares of company stock worth $106,335 in the last quarter. 29.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Townsquare Media

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of Townsquare Media by 52.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock valued at $2,212,000 after purchasing an additional 93,753 shares during the period. Rhumbline Advisers boosted its position in shares of Townsquare Media by 23.2% during the first quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock worth $147,000 after buying an additional 3,393 shares during the period. Boyar Asset Management Inc. boosted its position in shares of Townsquare Media by 17.7% during the second quarter. Boyar Asset Management Inc. now owns 42,540 shares of the company’s stock worth $336,000 after buying an additional 6,387 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Townsquare Media during the second quarter worth about $295,000. Finally, Corton Capital Inc. acquired a new stake in Townsquare Media in the 2nd quarter valued at approximately $227,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Townsquare Media Stock Up 1.7%

Shares of Townsquare Media stock opened at $6.55 on Monday. Townsquare Media has a 12 month low of $4.30 and a 12 month high of $9.38. The business has a fifty day simple moving average of $5.36 and a 200 day simple moving average of $6.17. The stock has a market cap of $107.81 million, a PE ratio of 6.36, a price-to-earnings-growth ratio of 0.87 and a beta of 0.99.

Townsquare Media (NYSE:TSQ) last posted its earnings results on Monday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $106.76 million during the quarter, compared to analyst estimates of $107.96 million. Townsquare Media had a negative return on equity of 47.95% and a net margin of 4.27%. Analysts expect that Townsquare Media will post 1.07 EPS for the current fiscal year.

Townsquare Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 26th will be given a $0.20 dividend. The ex-dividend date is Monday, January 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.2%. Townsquare Media’s dividend payout ratio is currently 77.67%.

Analysts Set New Price Targets

TSQ has been the subject of several research reports. Barrington Research lowered their price objective on shares of Townsquare Media from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Wall Street Zen lowered shares of Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Townsquare Media in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.50.

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.