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

Townsquare Media, Inc. (NYSE:TSQ) was the target of a significant 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. Approximately 2.0% of the shares of the company are short sold. Based on an average trading volume of 45,500 shares, the days-to-cover ratio is presently 5.1 days.

Townsquare Media Trading Up 0.2 %

NYSE:TSQ opened at $10.10 on Monday. The company has a debt-to-equity ratio of 271.80, a current ratio of 1.38 and a quick ratio of 1.38. The business’s 50-day simple moving average is $10.11 and its 200-day simple moving average is $10.53. Townsquare Media has a fifty-two week low of $9.48 and a fifty-two week high of $13.57. The stock has a market capitalization of $157.06 million, a PE ratio of -3.73, a price-to-earnings-growth ratio of 0.79 and a beta of 1.36.

Townsquare Media Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date of this dividend is Tuesday, January 21st. Townsquare Media’s payout ratio is presently -29.15%.

Insider Buying and Selling

In related news, major shareholder Msd Capital L. P sold 6,257 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $10.01, for a total value of $62,632.57. Following the sale, the insider now owns 1,506,641 shares of the company’s stock, valued at $15,081,476.41. The trade was a 0.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Erik Hellum sold 18,166 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.05, for a total transaction of $182,568.30. Following the completion of the sale, the chief operating officer now owns 562,680 shares in the company, valued at $5,654,934. This represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,866 shares of company stock valued at $809,750. 30.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Townsquare Media by 2.0% in the first quarter. Vanguard Group Inc. now owns 603,568 shares of the company’s stock valued at $6,627,000 after purchasing an additional 12,073 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Townsquare Media in the 1st quarter valued at about $124,000. Bank of New York Mellon Corp increased its position in shares of Townsquare Media by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 160,469 shares of the company’s stock valued at $1,759,000 after acquiring an additional 6,768 shares during the last quarter. Access Investment Management LLC raised its holdings in Townsquare Media by 0.5% during the second quarter. Access Investment Management LLC now owns 396,025 shares of the company’s stock worth $4,340,000 after acquiring an additional 2,140 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in Townsquare Media by 19.8% during the second quarter. Ritholtz Wealth Management now owns 33,841 shares of the company’s stock valued at $371,000 after purchasing an additional 5,600 shares during the last quarter. 71.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TSQ has been the subject of a number of research reports. StockNews.com upgraded Townsquare Media from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. 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.

About Townsquare Media

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.