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

Townsquare Media, Inc. (NYSE:TSQ) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 673,350 shares, a growth of 36.4% from the February 12th total of 493,634 shares. Currently, 5.8% of the shares of the company are short sold. Based on an average daily volume of 160,190 shares, the short-interest ratio is presently 4.2 days. Based on an average daily volume of 160,190 shares, the short-interest ratio is presently 4.2 days. Currently, 5.8% of the shares of the company are short sold.

Townsquare Media Trading Down 1.5%

NYSE:TSQ traded down $0.11 during trading hours on Friday, hitting $7.06. 79,099 shares of the stock were exchanged, compared to its average volume of 131,293. Townsquare Media has a 52-week low of $4.30 and a 52-week high of $9.31. The firm’s fifty day moving average price is $6.55 and its 200 day moving average price is $6.17. The company has a market cap of $116.21 million, a P/E ratio of 6.85, a P/E/G ratio of 0.95 and a beta of 0.96.

Analyst Ratings Changes

Several research firms recently commented on TSQ. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Townsquare Media in a report on Monday, December 29th. Wall Street Zen downgraded Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Insiders Place Their Bets

In other Townsquare Media news, COO Erik Hellum sold 6,522 shares of Townsquare Media stock in a transaction dated 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 transaction, the chief operating officer owned 969,648 shares in the company, valued at approximately $5,400,939.36. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 19,652 shares of company stock worth $106,335. 30.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Townsquare Media

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSQ. Raymond James Financial Inc. acquired a new stake in shares of Townsquare Media in the second quarter valued at about $33,000. Crews Bank & Trust acquired a new position in Townsquare Media during the fourth quarter worth about $26,000. AlphaCore Capital LLC purchased a new stake in Townsquare Media during the 3rd quarter valued at about $69,000. Algert Global LLC purchased a new stake in Townsquare Media during the 3rd quarter valued at about $72,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Townsquare Media in the 2nd quarter valued at about $101,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.