Townsquare Media, Inc. (NYSE:TSQ) Director Gary L. Ginsberg Sells 15,000 Shares

Townsquare Media, Inc. (NYSE:TSQGet Free Report) Director Gary L. Ginsberg sold 15,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $11.68, for a total value of $175,200.00. Following the sale, the director now owns 100,164 shares in the company, valued at $1,169,915.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Townsquare Media Price Performance

Townsquare Media stock opened at $12.35 on Thursday. The stock’s 50 day moving average is $10.86 and its 200 day moving average is $10.05. The company has a debt-to-equity ratio of 50.41, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market cap of $205.38 million, a P/E ratio of -4.51, a P/E/G ratio of 0.68 and a beta of 1.37. Townsquare Media, Inc. has a one year low of $8.00 and a one year high of $12.65.

Townsquare Media Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be paid a $0.198 dividend. The ex-dividend date is Thursday, April 4th. This is a positive change from Townsquare Media’s previous quarterly dividend of $0.19. This represents a $0.79 annualized dividend and a yield of 6.41%. Townsquare Media’s payout ratio is -27.37%.

Hedge Funds Weigh In On Townsquare Media

Several institutional investors have recently added to or reduced their stakes in TSQ. BlackRock Inc. lifted its stake in Townsquare Media by 295.4% in the second quarter. BlackRock Inc. now owns 631,135 shares of the company’s stock valued at $7,517,000 after buying an additional 471,529 shares during the period. Access Investment Management LLC acquired a new position in Townsquare Media in the fourth quarter valued at approximately $4,156,000. State Street Corp lifted its stake in Townsquare Media by 331.1% in the second quarter. State Street Corp now owns 143,738 shares of the company’s stock valued at $1,738,000 after buying an additional 110,399 shares during the period. Geode Capital Management LLC lifted its stake in Townsquare Media by 92.6% in the second quarter. Geode Capital Management LLC now owns 229,368 shares of the company’s stock valued at $2,732,000 after buying an additional 110,303 shares during the period. Finally, Northern Trust Corp lifted its stake in Townsquare Media by 376.1% in the second quarter. Northern Trust Corp now owns 98,059 shares of the company’s stock valued at $1,168,000 after buying an additional 77,464 shares during the period. 71.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com upgraded Townsquare Media from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Noble Financial lifted their price objective on Townsquare Media from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday. Guggenheim lifted their price objective on Townsquare Media from $12.00 to $12.50 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Townsquare Media in a research note on Tuesday.

Check Out Our Latest Research Report on TSQ

About Townsquare Media

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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.

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Insider Buying and Selling by Quarter for Townsquare Media (NYSE:TSQ)

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