Short Interest in Townsquare Media, Inc. (NYSE:TSQ) Drops By 19.2%

Townsquare Media, Inc. (NYSE:TSQ) saw a significant drop in short interest during 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 daily volume of 57,700 shares, the days-to-cover ratio is presently 3.0 days. Currently, 1.5% of the shares of the company are sold short.

Townsquare Media Price Performance

Shares of TSQ traded up $0.21 during mid-day trading on Friday, reaching $9.38. The company had a trading volume of 70,705 shares, compared to its average volume of 64,552. The company has a market capitalization of $145.86 million, a P/E ratio of -3.46, a P/E/G ratio of 0.52 and a beta of 1.31. Townsquare Media has a twelve month low of $8.70 and a twelve month high of $13.57. The company’s 50-day moving average is $9.75 and its 200-day moving average is $10.27.

Townsquare Media Dividend Announcement

The business also recently disclosed 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 is Tuesday, January 21st. This represents a $0.79 annualized dividend and a yield of 8.42%. Townsquare Media’s dividend payout ratio is currently -29.15%.

Insider Activity

In related news, major shareholder Msd Capital L. P sold 6,257 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $10.01, for a total value of $62,632.57. Following the completion of the sale, the insider now owns 1,506,641 shares in the company, valued at approximately $15,081,476.41. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claire Marie Yenicay sold 5,000 shares of Townsquare Media stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $9.65, for a total value of $48,250.00. Following the sale, the executive vice president now directly owns 207,393 shares in the company, valued at approximately $2,001,342.45. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,525 shares of company stock valued at $713,275. 34.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Townsquare Media

Several institutional investors and hedge funds have recently made changes to their positions in TSQ. Copeland Capital Management LLC acquired a new position in Townsquare Media in the third quarter worth $39,000. BNP Paribas Financial Markets increased its position in Townsquare Media by 28.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,698 shares of the company’s stock valued at $68,000 after acquiring an additional 1,503 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Townsquare Media by 24.4% in the second 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. Krilogy Financial LLC lifted its position in shares of Townsquare Media by 33.3% during the fourth quarter. Krilogy Financial LLC now owns 40,000 shares of the company’s stock worth $364,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Townsquare Media by 59.8% during the third quarter. Barclays PLC now owns 37,685 shares of the company’s stock valued at $383,000 after purchasing an additional 14,109 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TSQ shares. StockNews.com upgraded Townsquare Media from a “hold” rating to a “buy” rating in a research report 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.

Townsquare Media Company Profile

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.