Insider Selling: Townsquare Media, Inc. (NYSE:TSQ) Major Shareholder Sells 36,574 Shares of Stock

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

Townsquare Media Price Performance

TSQ stock traded down $0.08 during mid-day trading on Monday, reaching $9.93. 49,014 shares of the company traded hands, compared to its average volume of 51,811. The company has a debt-to-equity ratio of 271.80, a current ratio of 1.38 and a quick ratio of 1.36. The company has a market capitalization of $152.86 million, a P/E ratio of -3.69, a P/E/G ratio of 0.78 and a beta of 1.36. Townsquare Media, Inc. has a 52-week low of $9.36 and a 52-week high of $13.57. The company has a fifty day moving average price of $10.08 and a 200-day moving average price of $10.69.

Townsquare Media Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC purchased a new position in Townsquare Media during the 3rd quarter valued at about $39,000. Meeder Asset Management Inc. purchased a new position in shares of Townsquare Media during the second quarter worth about $57,000. BNP Paribas Financial Markets grew its holdings 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 worth $68,000 after purchasing an additional 1,503 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Townsquare Media during the first quarter worth about $124,000. Finally, Rhumbline Advisers grew its holdings in shares of Townsquare Media by 24.4% during the second quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock worth $139,000 after purchasing an additional 2,481 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSQ shares. StockNews.com upgraded Townsquare Media from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Barrington Research restated an “outperform” rating and issued a $17.00 price objective on shares of Townsquare Media in a research note 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.