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

Key Points

• Townsquare Media saw a significant reduction in short interest, dropping 28.2% to 127,500 shares by August 31st, with current short sales accounting for 1.0% of the stock.
• The company declared a quarterly dividend of $0.20 per share, scheduled for payment on November 3rd, indicating a strong annualized dividend yield of 11.5%.
• Despite a negative return on equity of 56.87%, Townsquare Media outperformed analyst expectations by reporting $0.22 earnings per share for the previous quarter against a consensus estimate of $0.21.

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 127,500 shares, a drop of 28.2% from the August 15th total of 177,700 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 101,800 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 101,800 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.0% of the shares of the stock are sold short.

Insider Transactions at Townsquare Media

In related news, Director Stephen A. Kaplan acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $69,200.00. Following the transaction, the director owned 208,618 shares in the company, valued at $1,443,636.56. This trade represents a 5.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Erik Hellum sold 10,000 shares of Townsquare Media stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $7.09, for a total value of $70,900.00. Following the sale, the chief operating officer owned 723,948 shares of the company's stock, valued at approximately $5,132,791.32. This represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Company insiders own 29.20% of the company's stock.

Institutional Trading of Townsquare Media

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Townsquare Media during the 2nd quarter worth about $33,000. Copeland Capital Management LLC grew its holdings in shares of Townsquare Media by 73.4% during the 1st quarter. Copeland Capital Management LLC now owns 6,753 shares of the company's stock worth $55,000 after purchasing an additional 2,859 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Townsquare Media during the 1st quarter worth about $86,000. Occudo Quantitative Strategies LP acquired a new position in Townsquare Media during the 2nd quarter worth approximately $101,000. Finally, Ancora Advisors LLC acquired a new position in Townsquare Media during the 1st quarter worth approximately $122,000. Hedge funds and other institutional investors own 71.69% of the company's stock.

Townsquare Media Price Performance

TSQ opened at $6.94 on Tuesday. Townsquare Media has a 12 month low of $6.47 and a 12 month high of $10.79. The stock has a market capitalization of $114.09 million, a price-to-earnings ratio of 3.44, a price-to-earnings-growth ratio of 2.09 and a beta of 1.17. The business has a 50-day moving average of $7.26 and a two-hundred day moving average of $7.31.

Townsquare Media (NYSE:TSQ - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $115.45 million during the quarter, compared to analysts' expectations of $114.77 million. 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 will be paid on Monday, November 3rd. Stockholders of record on Monday, October 27th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, October 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.5%. Townsquare Media's payout ratio is presently 39.60%.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an "outperform" rating and issued a $13.00 price target on shares of Townsquare Media in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $17.00.

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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