Townsquare Media, Inc. (NYSE:TSQ) Short Interest Down 14.7% in April

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

Townsquare Media Price Performance

TSQ traded up $0.06 during trading on Friday, reaching $6.52. 35,549 shares of the stock were exchanged, compared to its average volume of 110,336. The business’s 50 day moving average price is $6.40 and its two-hundred day moving average price is $5.97. The company has a market capitalization of $111.44 million, a price-to-earnings ratio of -9.18, a P/E/G ratio of 1.40 and a beta of 1.08. Townsquare Media has a 1 year low of $4.30 and a 1 year high of $9.31.

Townsquare Media (NYSE:TSQ) last posted its earnings results on Monday, March 16th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). The firm had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $106.40 million. Townsquare Media had a negative return on equity of 13.74% and a negative net margin of 2.58%. On average, analysts anticipate that Townsquare Media will post 0.38 EPS for the current year.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Monday, April 27th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date is Monday, April 27th. Townsquare Media’s payout ratio is presently -112.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TSQ shares. Barrington Research decreased their price target on Townsquare Media from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Weiss Ratings downgraded Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.50.

Insider Buying and Selling at Townsquare Media

In related news, EVP Scott Schatz sold 28,980 shares of Townsquare Media stock in a transaction that occurred 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 sale, the executive vice president directly owned 123,977 shares in the company, valued at $629,803.16. The trade was a 18.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 30.30% of the stock is currently owned by company insiders.

Institutional Trading of Townsquare Media

A number of institutional investors have recently bought and sold shares of the company. Beck Mack & Oliver LLC boosted its position in Townsquare Media by 8.6% during the fourth quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock worth $5,518,000 after purchasing an additional 85,000 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Townsquare Media by 5.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 372,218 shares of the company’s stock valued at $1,913,000 after acquiring an additional 19,871 shares in the last quarter. Goldman Sachs Group Inc. lifted its position 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 valued at $2,212,000 after acquiring an additional 93,753 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Townsquare Media by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 153,075 shares of the company’s stock valued at $787,000 after acquiring an additional 8,177 shares in the last quarter. Finally, Teton Advisors LLC purchased a new stake in shares of Townsquare Media in the third quarter valued at $780,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

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.