Short Interest in Townsquare Media, Inc. (NYSE:TSQ) Decreases By 35.2%

Townsquare Media, Inc. (NYSE:TSQ) was the recipient of a significant decrease in short interest in 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 currently 1.4 days. Currently, 1.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Insider Activity at Townsquare Media

In other news, COO Erik Hellum sold 35,000 shares of Townsquare Media stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total transaction of $225,400.00. Following the transaction, the chief operating officer directly owned 914,542 shares of the company’s stock, valued at $5,889,650.48. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bill Wilson sold 21,420 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were 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 directly owned 2,979,061 shares of the company’s stock, valued at $16,503,997.94. This trade represents a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 183,164 shares of company stock valued at $1,055,101 in the last ninety days. Insiders own 30.30% of the company’s stock.

Institutional Trading of Townsquare Media

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Townsquare Media during the 2nd quarter worth approximately $33,000. Algert Global LLC acquired a new position in shares of Townsquare Media in the third quarter valued at $72,000. Occudo Quantitative Strategies LP bought a new stake in shares of Townsquare Media during the 2nd quarter worth about $101,000. XTX Topco Ltd acquired a new position in Townsquare Media in the 4th quarter valued at about $83,000. Finally, Rhumbline Advisers lifted its position in 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 acquiring an additional 3,393 shares during the last quarter. Institutional investors own 71.69% of the company’s stock.

Townsquare Media Price Performance

TSQ stock opened at $5.74 on Thursday. The stock has a market capitalization of $104.64 million, a P/E ratio of -1.99 and a beta of 1.21. Townsquare Media has a fifty-two week low of $4.30 and a fifty-two week high of $7.97. The business has a 50-day moving average of $6.27 and a 200-day moving average of $6.39.

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

Townsquare Media Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, October 26th. This represents a $0.80 dividend on an annualized basis and a yield of 13.9%. Townsquare Media’s dividend payout ratio (DPR) is -27.78%.

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.