Townsquare Media, Inc. (NYSE:TSQ) Short Interest Down 35.2% in August

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

Insider Activity

In other news, COO Erik Hellum sold 35,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer owned 914,542 shares in the company, valued at approximately $5,889,650.48. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bill Wilson sold 126,744 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $5.61, for a total transaction of $711,033.84. Following the sale, the chief executive officer owned 3,000,481 shares in the company, valued at approximately $16,832,698.41. The trade was a 4.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 183,164 shares of company stock valued at $1,055,101 over the last ninety days. Corporate insiders own 30.30% of the company’s stock.

Hedge Funds Weigh In On Townsquare Media

A number of institutional investors and hedge funds have recently modified their holdings of TSQ. Raymond James Financial Inc. bought a new stake in shares of Townsquare Media in the second quarter worth $33,000. Algert Global LLC bought a new position in Townsquare Media in the third quarter valued at about $72,000. XTX Topco Ltd purchased a new position in Townsquare Media in the fourth quarter worth about $83,000. Occudo Quantitative Strategies LP purchased a new position in Townsquare Media in the second quarter worth about $101,000. Finally, Cetera Investment Advisers bought a new stake in shares of Townsquare Media during the 1st quarter valued at about $129,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Zacks Research raised Townsquare Media from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Wall Street Zen cut Townsquare Media from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price target on shares of Townsquare Media in a report on Monday, May 11th. Finally, Weiss Ratings downgraded Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. One investment 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.00.

Townsquare Media Stock Performance

Shares of TSQ stock traded down $0.15 during trading hours on Tuesday, reaching $5.64. The company had a trading volume of 89,494 shares, compared to its average volume of 120,496. The business has a fifty day moving average price of $6.30 and a 200-day moving average price of $6.41. Townsquare Media has a one year low of $4.30 and a one year high of $7.97. The firm has a market cap of $102.82 million, a PE ratio of -1.96 and a beta of 1.22.

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

Townsquare Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 26th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 14.2%. The ex-dividend date of this dividend is Monday, October 26th. Townsquare Media’s dividend payout ratio is presently -27.78%.

About Townsquare Media

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.