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

Townsquare Media, Inc. (NYSE:TSQ) saw a significant decline in short interest during 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 company’s shares are short sold. Based on an average daily volume of 45,500 shares, the days-to-cover ratio is currently 5.1 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barrington Research restated an “outperform” rating and set a $17.00 target price 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 research note on Monday, November 11th.

Townsquare Media Stock Up 0.2 %

TSQ traded up $0.02 during midday trading on Friday, hitting $10.10. The company had a trading volume of 17,792 shares, compared to its average volume of 52,257. The stock’s 50 day moving average price is $10.11 and its 200 day moving average price is $10.55. Townsquare Media has a 52 week low of $9.48 and a 52 week high of $13.57. The company has a market capitalization of $157.02 million, a price-to-earnings ratio of -3.73, a PEG 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.

Townsquare Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.1975 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $0.79 dividend on an annualized basis and a yield of 7.82%. Townsquare Media’s dividend payout ratio (DPR) is presently -29.15%.

Insider Buying and Selling

In related news, COO Erik Hellum sold 9,223 shares of Townsquare Media stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $10.30, for a total transaction of $94,996.90. Following the completion of the transaction, the chief operating officer now owns 607,680 shares of the company’s stock, valued at $6,259,104. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Msd Capital L. P sold 3,311 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $10.32, for a total transaction of $34,169.52. Following the sale, the insider now directly owns 1,515,516 shares in the company, valued at $15,640,125.12. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,866 shares of company stock valued at $809,750 over the last 90 days. 30.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 12,073 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Townsquare Media by 3.9% during the second quarter. Renaissance Technologies LLC now owns 482,352 shares of the company’s stock valued at $5,287,000 after purchasing an additional 17,900 shares in the last quarter. Access Investment Management LLC boosted 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 purchasing an additional 2,140 shares during the last quarter. Geode Capital Management LLC grew its position 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. Finally, State Street Corp increased its stake in Townsquare Media by 4.0% in the 3rd quarter. State Street Corp now owns 177,163 shares of the company’s stock valued at $1,800,000 after buying an additional 6,800 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

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.