Townsquare Media, Inc. (NYSE:TSQ) Short Interest Update

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Townsquare Media from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Barrington Research restated an “outperform” rating and issued a $10.00 price objective on shares of Townsquare Media in a research note on Monday, May 11th. Zacks Research cut shares of Townsquare Media from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $10.00.

Insider Buying and Selling

In related news, CAO Robert L. Worshek sold 34,299 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $6.62, for a total value of $227,059.38. Following the sale, the chief accounting officer owned 142,722 shares of the company’s stock, valued at $944,819.64. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Erik Hellum sold 35,000 shares of Townsquare Media stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 owned 914,542 shares of the company’s stock, valued at $5,889,650.48. This represents a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 30.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Townsquare Media

Several institutional investors have recently modified their holdings of TSQ. Goldman Sachs Group Inc. boosted its position in shares of Townsquare Media by 4.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 48,152 shares of the company’s stock worth $248,000 after buying an additional 2,049 shares in the last quarter. Beck Mack & Oliver LLC increased its holdings in Townsquare Media by 8.6% during the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock valued at $5,518,000 after acquiring an additional 85,000 shares in the last quarter. Man Group plc increased its holdings in Townsquare Media by 33.3% during the 2nd quarter. Man Group plc now owns 49,311 shares of the company’s stock valued at $390,000 after acquiring an additional 12,328 shares in the last quarter. Susquehanna International Group LLP acquired a new position in Townsquare Media during the third quarter worth about $144,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Townsquare Media during the second quarter worth about $101,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Townsquare Media Price Performance

Shares of NYSE TSQ traded up $0.29 during trading on Friday, hitting $5.99. 56,600 shares of the company were exchanged, compared to its average volume of 125,737. Townsquare Media has a 1 year low of $4.30 and a 1 year high of $7.97. The company has a market cap of $102.39 million, a price-to-earnings ratio of -13.78, a PEG ratio of 2.32 and a beta of 1.20. The firm’s fifty day moving average price is $6.58 and its 200 day moving average price is $6.46.

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

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.