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

Townsquare Media, Inc. (NYSE:TSQ) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 171,200 shares, a drop of 19.2% from the December 15th total of 211,900 shares. Based on an average trading volume of 57,700 shares, the short-interest ratio is presently 3.0 days. Currently, 1.5% of the company’s stock are sold short.

Townsquare Media Stock Up 2.2 %

Shares of TSQ opened at $9.27 on Thursday. The stock has a 50 day moving average of $9.78 and a 200 day moving average of $10.29. Townsquare Media has a 12 month low of $8.70 and a 12 month high of $13.57.

Townsquare Media Dividend Announcement

The business also recently declared 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 dividend yield of 8.52%. The ex-dividend date is Tuesday, January 21st. Townsquare Media’s dividend payout ratio (DPR) is currently -29.15%.

Insider Buying and Selling at Townsquare Media

In related news, EVP Claire Marie Yenicay sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $9.65, for a total value of $48,250.00. Following the transaction, the executive vice president now owns 207,393 shares of the company’s stock, valued at approximately $2,001,342.45. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Msd Capital L. P sold 3,311 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $10.32, for a total value of $34,169.52. Following the sale, the insider now directly owns 1,515,516 shares of the company’s stock, valued at $15,640,125.12. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,525 shares of company stock valued at $713,275. Company insiders own 34.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Townsquare Media by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,469 shares of the company’s stock worth $1,759,000 after purchasing an additional 6,768 shares in the last quarter. Rhumbline Advisers increased its stake in Townsquare Media by 24.4% in the 2nd quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock worth $139,000 after acquiring an additional 2,481 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Townsquare Media by 3.9% in 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. Copeland Capital Management LLC bought a new stake in shares of Townsquare Media during the 3rd quarter valued at about $39,000. Finally, BNP Paribas Financial Markets lifted its position in 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 during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.