Townsquare Media, Inc. (NYSE:TSQ) Short Interest Up 19.2% in February

Townsquare Media, Inc. (NYSE:TSQ) was the recipient of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 493,634 shares, a growth of 19.2% from the January 29th total of 414,044 shares. Based on an average daily volume of 199,138 shares, the short-interest ratio is currently 2.5 days. Approximately 4.2% of the company’s stock are sold short. Approximately 4.2% of the company’s stock are sold short. Based on an average daily volume of 199,138 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

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

Townsquare Media Stock Performance

Shares of TSQ stock traded up $0.06 during trading hours on Wednesday, reaching $7.50. The company had a trading volume of 91,932 shares, compared to its average volume of 178,891. The business has a fifty day moving average price of $6.20 and a 200-day moving average price of $6.14. Townsquare Media has a one year low of $4.30 and a one year high of $9.31. The firm has a market cap of $123.45 million, a PE ratio of 7.28, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96.

Insider Activity at Townsquare Media

In related news, COO Erik Hellum sold 6,522 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $5.57, for a total value of $36,327.54. Following the sale, the chief operating officer owned 969,648 shares in the company, valued at $5,400,939.36. This represents a 0.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 19,652 shares of company stock valued at $106,335. Insiders own 29.20% of the company’s stock.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds and other institutional investors have recently modified their holdings of TSQ. Beck Mack & Oliver LLC boosted its stake in shares of Townsquare Media by 8.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock worth $5,518,000 after buying an additional 85,000 shares during the last quarter. American Century Companies Inc. lifted its holdings in Townsquare Media by 18.0% in the second quarter. American Century Companies Inc. now owns 856,651 shares of the company’s stock valued at $6,776,000 after acquiring an additional 130,537 shares during the period. RBF Capital LLC boosted its position in Townsquare Media by 862.7% in the second quarter. RBF Capital LLC now owns 422,931 shares of the company’s stock worth $3,345,000 after purchasing an additional 379,000 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Townsquare Media by 2.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 383,107 shares of the company’s stock valued at $3,030,000 after purchasing an additional 9,075 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Townsquare Media by 52.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock valued at $2,212,000 after purchasing an additional 93,753 shares during the last quarter. 71.69% of the stock is owned by 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.