Townsquare Media, Inc. (NYSE:TSQ) Sees Significant Drop in Short Interest

Key Points

• Townsquare Media, Inc. (NYSE:TSQ) experienced a 42.0% reduction in short interest, dropping from 127,500 to 74,000 shares in September.
• Insider Stephen A. Kaplan purchased 10,000 shares at $6.92 each, increasing his ownership by 5.03% and indicating positive sentiment towards the company's stock.
• The company announced a quarterly dividend of $0.20 per share, which reflects a 12.3% yield and is part of a growing annualized dividend payout strategy.

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 74,000 shares, a decrease of 42.0% from the August 31st total of 127,500 shares. Based on an average daily volume of 93,100 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 93,100 shares, the days-to-cover ratio is currently 0.8 days.

Insider Activity at Townsquare Media

In other news, Director Stephen A. Kaplan bought 10,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were bought at an average price of $6.92 per share, for a total transaction of $69,200.00. Following the completion of the purchase, the director owned 208,618 shares in the company, valued at approximately $1,443,636.56. This trade represents a 5.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 30.50% of the company's stock.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds and other institutional investors have recently made changes to their positions in TSQ. Beck Mack & Oliver LLC lifted its holdings in shares of Townsquare Media by 2.5% during the 2nd quarter. Beck Mack & Oliver LLC now owns 967,425 shares of the company's stock worth $7,652,000 after acquiring an additional 23,711 shares during the period. American Century Companies Inc. raised its position in Townsquare Media by 18.0% during the second quarter. American Century Companies Inc. now owns 856,651 shares of the company's stock valued at $6,776,000 after purchasing an additional 130,537 shares in the last quarter. RBF Capital LLC raised its position in Townsquare Media by 862.7% during the second quarter. RBF Capital LLC now owns 422,931 shares of the company's stock valued at $3,345,000 after purchasing an additional 379,000 shares in the last quarter. Access Investment Management LLC bought a new stake in Townsquare Media during the second quarter worth $3,160,000. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Townsquare Media by 2.4% in 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 in the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSQ has been the topic of several recent research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Townsquare Media in a research report on Saturday, September 27th. Barrington Research restated an "outperform" rating and issued a $13.00 price target on shares of Townsquare Media in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Townsquare Media Price Performance

Townsquare Media stock opened at $6.49 on Friday. The firm has a market cap of $106.61 million, a PE ratio of 3.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The stock's fifty day moving average price is $6.93 and its two-hundred day moving average price is $7.20. Townsquare Media has a one year low of $6.47 and a one year high of $10.79.

Townsquare Media (NYSE:TSQ - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Townsquare Media had a negative return on equity of 56.87% and a net margin of 7.93%.The company had revenue of $115.45 million for the quarter, compared to analyst estimates of $114.77 million. Sell-side analysts expect that Townsquare Media will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Monday, October 27th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date is Monday, October 27th. Townsquare Media's dividend payout ratio is presently 39.60%.

Townsquare Media Company Profile

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.

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