Msd Capital L. P Sells 36,574 Shares of Townsquare Media, Inc. (NYSE:TSQ) Stock

Townsquare Media, Inc. (NYSE:TSQ) major shareholder Msd Capital L. P sold 36,574 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $10.16, for a total transaction of $371,591.84. Following the transaction, the insider now owns 1,470,067 shares of the company’s stock, valued at approximately $14,935,880.72. This represents a 2.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Townsquare Media Stock Down 0.2 %

Shares of NYSE:TSQ opened at $9.91 on Wednesday. Townsquare Media, Inc. has a 12 month low of $9.36 and a 12 month high of $13.57. The firm has a market cap of $154.10 million, a P/E ratio of -3.66, a P/E/G ratio of 0.78 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. The company’s 50-day moving average price is $10.09 and its two-hundred day moving average price is $10.67.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Tuesday, January 21st will be given 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 dividend yield of 7.97%. Townsquare Media’s payout ratio is currently -29.15%.

Hedge Funds Weigh In On Townsquare Media

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Townsquare Media by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 603,568 shares of the company’s stock valued at $6,627,000 after purchasing an additional 12,073 shares during the last quarter. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 17,900 shares during the period. Access Investment Management LLC boosted its position in shares of Townsquare Media by 0.5% in the 2nd 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 boosted its position in shares of 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 during the last quarter. Finally, State Street Corp lifted its stake in Townsquare Media by 4.0% in the third 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 period. Institutional investors and hedge funds own 71.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barrington Research reissued an “outperform” rating and set a $17.00 price objective on shares of Townsquare Media in a report on Thursday, November 7th. StockNews.com upgraded shares of Townsquare Media from a “hold” rating to a “buy” rating in a research 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.