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 Townsquare Media stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $10.16, for a total value of $371,591.84. Following the transaction, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Townsquare Media Trading Down 0.8 %

Shares of NYSE:TSQ opened at $9.83 on Thursday. Townsquare Media, Inc. has a 12-month low of $9.36 and a 12-month high of $13.57. The business has a 50 day moving average of $10.09 and a 200-day moving average of $10.66. The company has a debt-to-equity ratio of 271.80, a quick ratio of 1.38 and a current ratio of 1.38.

Townsquare Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders 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 8.04%. The ex-dividend date is Tuesday, January 21st. Townsquare Media’s dividend payout ratio is -29.15%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TSQ. 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 raised Townsquare Media from a “hold” rating to a “buy” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Copeland Capital Management LLC acquired a new position in shares of Townsquare Media in the third quarter valued at about $39,000. Meeder Asset Management Inc. bought a new stake in Townsquare Media in the 2nd quarter valued at about $57,000. BNP Paribas Financial Markets grew its position in shares of Townsquare Media by 28.9% during the 3rd 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 bought a new position in shares of Townsquare Media during the first quarter worth approximately $124,000. Finally, Rhumbline Advisers raised its position in shares of Townsquare Media by 24.4% in the second quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock valued at $139,000 after buying an additional 2,481 shares in the last quarter. 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.