Short Interest in Townsquare Media, Inc. (NYSE:TSQ) Decreases By 35.5%

Townsquare Media, Inc. (NYSE:TSQ) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 183,961 shares, a drop of 35.5% from the June 30th total of 285,348 shares. Based on an average daily volume of 59,696 shares, the short-interest ratio is currently 3.1 days. Approximately 1.5% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research firms have commented on TSQ. Weiss Ratings raised Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 13th. Barrington Research restated an “outperform” rating and set a $10.00 price target on shares of Townsquare Media in a report on Monday, May 11th. Wall Street Zen raised Townsquare Media from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Zacks Research cut shares of Townsquare Media from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $10.00.

Insider Buying and Selling

In other news, COO Erik Hellum sold 35,000 shares of Townsquare Media stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 914,542 shares in the company, valued at approximately $5,889,650.48. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert L. Worshek sold 34,299 shares of Townsquare Media stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $6.62, for a total transaction of $227,059.38. Following the transaction, the chief accounting officer owned 142,722 shares of the company’s stock, valued at $944,819.64. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 30.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Townsquare Media

Several large investors have recently bought and sold shares of TSQ. Goldman Sachs Group Inc. grew its holdings in shares of Townsquare Media by 52.7% in the first quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock worth $2,212,000 after acquiring an additional 93,753 shares during the period. Rhumbline Advisers boosted its position in Townsquare Media by 23.2% in 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 last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Townsquare Media in the second quarter worth about $240,000. Marshall Wace LLP grew its stake in shares of Townsquare Media by 63.1% during the 2nd quarter. Marshall Wace LLP now owns 82,107 shares of the company’s stock valued at $649,000 after purchasing an additional 31,773 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of Townsquare Media by 4.9% during the 2nd quarter. Gabelli Funds LLC now owns 57,500 shares of the company’s stock valued at $455,000 after purchasing an additional 2,700 shares during the period. 71.69% of the stock is currently owned by institutional investors.

Townsquare Media Price Performance

NYSE TSQ traded up $0.29 during mid-day trading on Friday, reaching $5.99. The stock had a trading volume of 71,482 shares, compared to its average volume of 55,466. Townsquare Media has a 1 year low of $4.30 and a 1 year high of $7.97. The stock has a market cap of $102.39 million, a PE ratio of -13.93, a price-to-earnings-growth ratio of 2.26 and a beta of 1.20. The company has a fifty day moving average price of $6.57 and a 200 day moving average price of $6.45.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. The business had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $96.46 million. As a group, equities research analysts expect that Townsquare Media will post 0.21 earnings per share for the current year.

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.