Townsquare Media, Inc. (NYSE:TSQ) Short Interest Up 29.0% in May

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 361,100 shares, a growth of 29.0% from the April 30th total of 279,900 shares. Currently, 2.9% of the company's shares are sold short. Based on an average trading volume of 68,500 shares, the short-interest ratio is currently 5.3 days.

Analysts Set New Price Targets

Several analysts recently commented on the company. Noble Financial reaffirmed a "buy" rating and set a $21.00 price objective on shares of Townsquare Media in a research note on Friday, May 9th. Wall Street Zen lowered Townsquare Media from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Barrington Research decreased their price objective on Townsquare Media from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, May 9th.

Townsquare Media Trading Up 2.3%

Shares of TSQ stock traded up $0.16 during trading hours on Friday, hitting $7.16. 87,440 shares of the company were exchanged, compared to its average volume of 61,278. Townsquare Media has a 52 week low of $6.47 and a 52 week high of $12.32. The business has a 50 day moving average of $6.98 and a two-hundred day moving average of $8.36. The company has a market capitalization of $117.13 million, a PE ratio of -2.64, a PEG ratio of 0.58 and a beta of 1.08.

Townsquare Media (NYSE:TSQ - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). The firm had revenue of $98.68 million during the quarter, compared to analysts' expectations of $98.50 million. Townsquare Media had a negative return on equity of 57.10% and a negative net margin of 8.84%. On average, research analysts forecast that Townsquare Media will post 1.07 EPS for the current year.

Townsquare Media Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 11.17%. The ex-dividend date is Friday, July 18th. Townsquare Media's payout ratio is -60.15%.

Insider Activity at Townsquare Media

In other news, COO Erik Hellum sold 17,305 shares of Townsquare Media stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $7.00, for a total transaction of $121,135.00. Following the transaction, the chief operating officer now directly owns 741,643 shares of the company's stock, valued at $5,191,501. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 30.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Townsquare Media

A number of large investors have recently bought and sold shares of TSQ. 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 worth $2,212,000 after purchasing an additional 93,753 shares in the last quarter. Two Sigma Advisers LP increased its stake in Townsquare Media by 130.7% in the 4th quarter. Two Sigma Advisers LP now owns 103,600 shares of the company's stock valued at $942,000 after buying an additional 58,700 shares during the last quarter. Millennium Management LLC increased its stake in Townsquare Media by 129.9% in the 4th quarter. Millennium Management LLC now owns 92,557 shares of the company's stock valued at $841,000 after buying an additional 52,299 shares during the last quarter. Marshall Wace LLP bought a new stake in Townsquare Media during the 4th quarter worth about $369,000. Finally, Northern Trust Corp boosted its stake in shares of Townsquare Media by 25.1% during the 4th quarter. Northern Trust Corp now owns 144,847 shares of the company's stock worth $1,317,000 after buying an additional 29,019 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company's stock.

About Townsquare Media

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.