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

Townsquare Media, Inc. (NYSE:TSQ) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 673,350 shares, an increase of 36.4% from the February 12th total of 493,634 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average daily volume of 160,190 shares, the short-interest ratio is presently 4.2 days. Based on an average daily volume of 160,190 shares, the short-interest ratio is presently 4.2 days. Currently, 5.8% of the company’s stock are short sold.

Insider Transactions at Townsquare Media

In related news, COO Erik Hellum sold 7,437 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $5.54, for a total transaction of $41,200.98. Following the completion of the transaction, the chief operating officer directly owned 1,029,150 shares of the company’s stock, valued at $5,701,491. The trade was a 0.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 19,652 shares of company stock valued at $106,335 in the last ninety days. Company insiders own 29.20% of the company’s stock.

Institutional Trading of Townsquare Media

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSQ. Truffle Hound Capital LLC acquired a new position in shares of Townsquare Media in the 2nd quarter valued at $1,186,000. RBF Capital LLC raised its stake in Townsquare Media by 862.7% during the 2nd quarter. RBF Capital LLC now owns 422,931 shares of the company’s stock worth $3,345,000 after acquiring an additional 379,000 shares in the last quarter. American Century Companies Inc. lifted its position in Townsquare Media by 18.0% in the second quarter. American Century Companies Inc. now owns 856,651 shares of the company’s stock valued at $6,776,000 after acquiring an additional 130,537 shares during the last quarter. Teton Advisors LLC purchased a new stake in Townsquare Media in the third quarter valued at $780,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Townsquare Media in the second quarter valued at $158,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSQ. Weiss Ratings reiterated a “sell (d)” rating on shares of Townsquare Media in a research note on Monday, December 29th. Wall Street Zen cut shares of Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.50.

Townsquare Media Stock Performance

Shares of NYSE:TSQ traded down $0.95 on Monday, hitting $6.03. 85,590 shares of the company’s stock were exchanged, compared to its average volume of 166,945. Townsquare Media has a 1-year low of $4.30 and a 1-year high of $9.31. The company has a market capitalization of $99.24 million, a PE ratio of 5.85, a P/E/G ratio of 0.92 and a beta of 0.95. The firm’s 50-day moving average is $6.55 and its 200 day moving average is $6.16.

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.