Insider Selling: Townsquare Media, Inc. (NYSE:TSQ) Major Shareholder Sells $371,591.84 in Stock

Townsquare Media, Inc. (NYSE:TSQ) major shareholder Msd Capital L. P sold 36,574 shares of Townsquare Media stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.16, for a total transaction of $371,591.84. Following the completion of the sale, the insider now directly owns 1,470,067 shares of the company’s stock, valued at $14,935,880.72. The trade was a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Townsquare Media Stock Down 0.8 %

Shares of TSQ opened at $9.93 on Tuesday. Townsquare Media, Inc. has a fifty-two week low of $9.36 and a fifty-two week high of $13.57. The company’s fifty day moving average is $10.08 and its two-hundred day moving average is $10.69. The firm has a market cap of $152.86 million, a PE ratio of -3.66, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. The company has a quick ratio of 1.36, a current ratio of 1.38 and a debt-to-equity ratio of 271.80.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Tuesday, January 21st will be issued a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 7.96%. The ex-dividend date of this dividend is Tuesday, January 21st. Townsquare Media’s payout ratio is currently -29.15%.

Analyst Ratings Changes

TSQ has been the subject of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Townsquare Media in a research report on Thursday, November 7th. StockNews.com upgraded Townsquare Media from a “hold” rating to a “buy” rating in a report on Monday, November 11th.

Institutional Investors Weigh In On Townsquare Media

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Townsquare Media by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 603,568 shares of the company’s stock worth $6,627,000 after purchasing an additional 12,073 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Townsquare Media by 3.9% during the 2nd quarter. Renaissance Technologies LLC now owns 482,352 shares of the company’s stock valued at $5,287,000 after acquiring an additional 17,900 shares in the last quarter. Access Investment Management LLC boosted its position in Townsquare Media by 0.5% during the 2nd quarter. Access Investment Management LLC now owns 396,025 shares of the company’s stock worth $4,340,000 after purchasing an additional 2,140 shares during the period. 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 valued at $2,835,000 after purchasing an additional 1,151 shares in the last quarter. Finally, 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 period. Hedge funds and other institutional investors own 71.69% of the company’s stock.

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.