Townsquare Media, Inc. (NYSE:TSQ) Short Interest Up 64.9% in January

Townsquare Media, Inc. (NYSE:TSQ) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 173,704 shares, a growth of 64.9% from the December 31st total of 105,338 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 60,604 shares, the days-to-cover ratio is currently 2.9 days. Based on an average trading volume of 60,604 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.5% of the shares of the stock are short sold.

Insider Activity

In other news, COO Erik Hellum sold 6,522 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $5.57, for a total transaction of $36,327.54. Following the completion of the sale, the chief operating officer directly owned 969,648 shares of the company’s stock, valued at $5,400,939.36. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 19,652 shares of company stock worth $106,335 over the last quarter. 29.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Townsquare Media

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Townsquare Media during the 2nd quarter valued at about $33,000. Crews Bank & Trust acquired a new stake in Townsquare Media in the fourth quarter valued at approximately $26,000. AlphaCore Capital LLC acquired a new stake in Townsquare Media in the third quarter valued at approximately $69,000. Algert Global LLC bought a new stake in Townsquare Media in the third quarter worth approximately $72,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Townsquare Media during the 2nd quarter worth $101,000. 71.69% of the stock is owned by hedge funds and other institutional investors.

Townsquare Media Stock Performance

TSQ stock opened at $6.55 on Monday. The firm has a 50 day simple moving average of $5.36 and a 200 day simple moving average of $6.17. Townsquare Media has a 52 week low of $4.30 and a 52 week high of $9.38. The stock has a market cap of $107.81 million, a P/E ratio of 6.36, a P/E/G ratio of 0.87 and a beta of 0.99.

Townsquare Media (NYSE:TSQ) last released its earnings results on Monday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $106.76 million during the quarter, compared to the consensus estimate of $107.96 million. Townsquare Media had a net margin of 4.27% and a negative return on equity of 47.95%. Sell-side analysts predict that Townsquare Media will post 1.07 EPS for the current year.

Townsquare Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 26th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, January 26th. This represents a $0.80 dividend on an annualized basis and a yield of 12.2%. Townsquare Media’s dividend payout ratio (DPR) is presently 77.67%.

Analysts Set New Price Targets

Several analysts have issued reports on TSQ shares. Wall Street Zen downgraded Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Barrington Research cut their price target on shares of Townsquare Media from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Townsquare Media in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.50.

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.