Short Interest in Townsquare Media, Inc. (NYSE:TSQ) Grows By 984.1%

Key Points

• Townsquare Media experienced a dramatic increase in short interest, rising by 984.1% in July, totaling 170,200 shares, with a short-interest ratio of 1.5 days.
• The company recently declared a quarterly dividend of $0.20 per share, with an annualized yield of 11.6%, despite having a negative dividend payout ratio.
• Townsquare Media's stock price has seen a slight decline, currently at $6.87, with a market cap of $112.32 million and a 12-month trading range from $6.47 to $11.63.

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 170,200 shares, anincreaseof984.1% from the June 30th total of 15,700 shares. Based on an average trading volume of 116,900 shares, the short-interest ratio is currently 1.5 days. Approximately1.4% of the company's shares are short sold. Approximately1.4% of the company's shares are short sold. Based on an average trading volume of 116,900 shares, the short-interest ratio is currently 1.5 days.

Townsquare Media Price Performance

Shares of Townsquare Media stock traded down $0.19 during trading on Wednesday, hitting $6.74. 85,276 shares of the company were exchanged, compared to its average volume of 86,489. The firm's fifty day moving average price is $7.45 and its 200 day moving average price is $7.72. Townsquare Media has a 1-year low of $6.47 and a 1-year high of $11.52. The firm has a market capitalization of $110.13 million, a P/E ratio of -5.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.15.

Townsquare Media (NYSE:TSQ - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). The company had revenue of $98.68 million for the quarter, compared to analysts' expectations of $98.50 million. Townsquare Media had a negative net margin of 3.41% and a negative return on equity of 41.58%. As a group, equities research analysts anticipate that Townsquare Media will post 1.07 earnings per share for the current year.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Friday, July 18th were issued a $0.20 dividend. The ex-dividend date was Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 11.9%. Townsquare Media's payout ratio is presently -60.15%.

Insider Buying and Selling at Townsquare Media

In other news, COO Erik Hellum sold 10,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $7.09, for a total transaction of $70,900.00. Following the completion of the transaction, the chief operating officer directly owned 723,948 shares of the company's stock, valued at approximately $5,132,791.32. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 35,000 shares of company stock worth $246,267 in the last ninety days. 30.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Townsquare Media

Several institutional investors and hedge funds have recently made changes to their positions in TSQ. Access Investment Management LLC bought a new stake in shares of Townsquare Media during the second quarter valued at about $3,160,000. Corton Capital Inc. purchased a new position in shares of Townsquare Media in the second quarter worth approximately $227,000. Y Intercept Hong Kong Ltd bought a new stake in Townsquare Media during the 2nd quarter valued at approximately $295,000. Boyar Asset Management Inc. boosted its holdings in shares of Townsquare Media by 17.7% in the 2nd quarter. Boyar Asset Management Inc. now owns 42,540 shares of the company's stock worth $336,000 after purchasing an additional 6,387 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of 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. Institutional investors own 71.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barrington Research reduced their price target on shares of Townsquare Media from $15.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Wall Street Zen downgraded shares of Townsquare Media from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Noble Financial reaffirmed a "buy" rating and issued a $21.00 target price on shares of Townsquare Media in a research report on Friday, May 9th.

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.