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

Townsquare Media, Inc. (NYSE:TSQ) saw a significant decrease in short interest in April. As of April 15th, there was short interest totaling 593,604 shares, a decrease of 14.7% from the March 31st total of 695,910 shares. Based on an average daily volume of 137,648 shares, the days-to-cover ratio is presently 4.3 days. Currently, 5.0% of the shares of the company are sold short.

Insider Activity

In other news, EVP Scott Schatz sold 28,980 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $5.08, for a total value of $147,218.40. Following the completion of the transaction, the executive vice president owned 123,977 shares of the company’s stock, valued at approximately $629,803.16. This represents a 18.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 30.30% of the company’s stock.

Institutional Trading of Townsquare Media

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in shares of Townsquare Media by 4.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 48,152 shares of the company’s stock worth $248,000 after purchasing an additional 2,049 shares during the period. Marshall Wace LLP increased its stake in shares of Townsquare Media by 6.3% during the fourth quarter. Marshall Wace LLP now owns 37,953 shares of the company’s stock worth $195,000 after purchasing an additional 2,256 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Townsquare Media by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock worth $249,000 after purchasing an additional 2,319 shares during the period. Gabelli Funds LLC increased its stake in shares of Townsquare Media by 4.9% during the second quarter. Gabelli Funds LLC now owns 57,500 shares of the company’s stock worth $455,000 after purchasing an additional 2,700 shares during the period. Finally, Rhumbline Advisers increased its stake 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 purchasing an additional 3,393 shares during the period. Institutional investors and hedge funds own 71.69% of the company’s stock.

Townsquare Media Trading Up 0.9%

NYSE TSQ traded up $0.06 during trading on Friday, reaching $6.52. 35,549 shares of the company’s stock were exchanged, compared to its average volume of 171,845. Townsquare Media has a fifty-two week low of $4.30 and a fifty-two week high of $9.31. The firm has a market capitalization of $111.41 million, a PE ratio of -9.18, a P/E/G ratio of 1.35 and a beta of 1.08. The company’s fifty day simple moving average is $6.40 and its 200-day simple moving average is $5.97.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Monday, March 16th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). Townsquare Media had a negative return on equity of 13.74% and a negative net margin of 2.58%.The business had revenue of $106.50 million for the quarter, compared to analyst estimates of $106.40 million. Equities analysts forecast that Townsquare Media will post 0.38 EPS for the current fiscal year.

Townsquare Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 12.3%. The ex-dividend date of this dividend is Monday, April 27th. Townsquare Media’s dividend payout ratio (DPR) is presently -112.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings cut Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. Barrington Research decreased their target price on Townsquare Media from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Townsquare Media currently has an average rating of “Hold” and a consensus price target of $15.50.

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.