Townsquare Media, Inc. (NYSE:TSQ) Sees Large Decline in Short Interest

Townsquare Media, Inc. (NYSE:TSQ) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 230,300 shares, a decline of 19.5% from the October 31st total of 286,100 shares. Based on an average daily volume of 45,500 shares, the short-interest ratio is presently 5.1 days. Currently, 2.0% of the shares of the company are short sold.

Insider Buying and Selling at Townsquare Media

In related news, major shareholder Msd Capital L. P sold 5,139 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $51,544.17. Following the completion of the transaction, the insider now owns 1,452,549 shares of the company’s stock, valued at $14,569,066.47. The trade was a 0.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen A. Kaplan acquired 50,000 shares of Townsquare Media stock in a transaction on Friday, September 20th. The shares were purchased at an average price of $10.41 per share, for a total transaction of $520,500.00. Following the completion of the purchase, the director now directly owns 137,808 shares of the company’s stock, valued at approximately $1,434,581.28. This represents a 56.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 79,866 shares of company stock valued at $809,750 in the last quarter. Company insiders own 30.50% of the company’s stock.

Institutional Trading of Townsquare Media

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its stake in shares of Townsquare Media by 59.8% in the 3rd quarter. Barclays PLC now owns 37,685 shares of the company’s stock valued at $383,000 after acquiring an additional 14,109 shares during the last quarter. Geode Capital Management LLC increased its holdings in Townsquare Media by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 278,985 shares of the company’s stock worth $2,835,000 after purchasing an additional 1,151 shares in the last quarter. State Street Corp raised its position in Townsquare Media by 4.0% in the third quarter. State Street Corp now owns 177,163 shares of the company’s stock valued at $1,800,000 after purchasing an additional 6,800 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Townsquare Media by 28.9% during the third quarter. BNP Paribas Financial Markets now owns 6,698 shares of the company’s stock valued at $68,000 after purchasing an additional 1,503 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new stake in shares of Townsquare Media during the third quarter worth about $39,000. Institutional investors own 71.69% of the company’s stock.

Townsquare Media Price Performance

Shares of TSQ stock traded up $0.02 on Friday, reaching $10.10. The company had a trading volume of 17,792 shares, compared to its average volume of 52,257. The stock has a market capitalization of $157.02 million, a PE ratio of -3.73, a price-to-earnings-growth ratio of 0.79 and a beta of 1.36. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 271.80. The business’s 50-day moving average is $10.11 and its 200 day moving average is $10.55. Townsquare Media has a one year low of $9.48 and a one year high of $13.57.

Townsquare Media Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Tuesday, January 21st will be paid a $0.1975 dividend. This represents a $0.79 annualized dividend and a yield of 7.82%. The ex-dividend date is Tuesday, January 21st. Townsquare Media’s payout ratio is -29.15%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TSQ shares. Barrington Research reiterated an “outperform” rating and set a $17.00 price target on shares of Townsquare Media in a research report on Thursday, November 7th. StockNews.com raised Townsquare Media from a “hold” rating to a “buy” rating in a report on Monday, November 11th.

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.