Townsquare Media, Inc. (NYSE:TSQ) Short Interest Down 35.5% in July

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CAO Robert L. Worshek sold 34,299 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, COO Erik Hellum sold 35,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer owned 914,542 shares in the company, valued at approximately $5,889,650.48. The trade was 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 owned by insiders.

Institutional Investors Weigh In On Townsquare Media

A number of institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake 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 valued at $248,000 after purchasing an additional 2,049 shares during the period. Marshall Wace LLP lifted its position in shares of Townsquare Media by 6.3% during the 4th quarter. Marshall Wace LLP now owns 37,953 shares of the company’s stock worth $195,000 after buying an additional 2,256 shares during the period. Gabelli Funds LLC boosted its stake in Townsquare Media by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 63,300 shares of the company’s stock valued at $344,000 after buying an additional 2,300 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Townsquare Media by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock valued at $249,000 after buying an additional 2,319 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Townsquare Media by 23.2% in the first quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock valued at $147,000 after acquiring an additional 3,393 shares during the period. 71.69% of the stock is owned by institutional investors and hedge funds.

Townsquare Media Stock Performance

NYSE:TSQ opened at $5.99 on Friday. The company has a 50-day moving average of $6.57 and a 200-day moving average of $6.45. The company has a market capitalization of $102.39 million, a price-to-earnings ratio of -13.93, a PEG ratio of 2.35 and a beta of 1.20. Townsquare Media has a 52 week low of $4.30 and a 52 week high of $7.97.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The business had revenue of $96.10 million for the quarter, compared to analyst estimates of $96.46 million. Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. Sell-side analysts forecast that Townsquare Media will post 0.21 EPS 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.