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

Key Points

• Short interest fell sharply: Townsquare Media’s short interest dropped 35.5% to 183,961 shares as of July 15, representing 1.5% of shares outstanding and 3.1 days of average trading volume.
• Shares rose 5.1% to $5.99, but remain below their 50-day and 200-day moving averages. The company missed quarterly EPS and revenue expectations, reporting a $0.16 loss per share on $96.1 million in revenue.
• Analyst sentiment remains mixed to negative: one analyst rates TSQ a Buy while two rate it a Sell, producing an overall “Reduce” rating despite a $10 average price target. Insiders own 30.3% of the stock, while institutional investors own 71.69%.

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 183,961 shares, a drop of 35.5% from the June 30th total of 285,348 shares. Based on an average daily trading volume, of 59,696 shares, the short-interest ratio is presently 3.1 days. Currently, 1.5% of the company's stock are sold short.

Townsquare Media Trading Up 5.1%

NYSE:TSQ traded up $0.29 during trading hours on Friday, reaching $5.99. 56,600 shares of the company were exchanged, compared to its average volume of 125,737. The firm has a market cap of $102.39 million, a PE ratio of -13.78, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. Townsquare Media has a twelve month low of $4.30 and a twelve month high of $7.97. The stock's 50-day moving average is $6.58 and its 200-day moving average is $6.46.

Townsquare Media (NYSE:TSQ - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%.The firm had revenue of $96.10 million for the quarter, compared to analysts' expectations of $96.46 million. As a group, research analysts anticipate that Townsquare Media will post 0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSQ. Wall Street Zen raised shares of Townsquare Media from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Weiss Ratings raised Townsquare Media from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 13th. Zacks Research downgraded Townsquare Media from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Finally, Barrington Research restated an "outperform" rating and issued a $10.00 target price on shares of Townsquare Media in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $10.00.

Insider Transactions at Townsquare Media

In other Townsquare Media news, COO Erik Hellum sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total value of $225,400.00. Following the completion of the sale, the chief operating officer directly owned 914,542 shares in the company, valued at $5,889,650.48. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert L. Worshek sold 34,299 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $6.62, for a total value of $227,059.38. Following the completion of the sale, the chief accounting officer directly owned 142,722 shares of the company's stock, valued at $944,819.64. The trade was a 19.38% decrease in their position. The SEC filing for this sale provides additional information. 30.30% of the stock is currently owned by company insiders.

Institutional Trading of Townsquare Media

Several institutional investors and hedge funds have recently bought and sold shares of TSQ. Raymond James Financial Inc. acquired a new position in Townsquare Media during the 2nd quarter worth about $33,000. Crews Bank & Trust purchased a new stake in Townsquare Media during the fourth quarter worth about $26,000. Algert Global LLC purchased a new stake in Townsquare Media during the third quarter worth about $72,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Townsquare Media during the second quarter worth about $101,000. Finally, XTX Topco Ltd acquired a new stake in shares of Townsquare Media during the fourth quarter worth about $83,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Townsquare Media Company Profile

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.

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