Boyar Asset Management Inc. Buys 6,387 Shares of Townsquare Media, Inc. $TSQ

Boyar Asset Management Inc. grew its stake in Townsquare Media, Inc. (NYSE:TSQ) by 17.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,540 shares of the company’s stock after purchasing an additional 6,387 shares during the period. Boyar Asset Management Inc. owned approximately 0.26% of Townsquare Media worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TSQ. Copeland Capital Management LLC grew its stake in shares of Townsquare Media by 73.4% in the 1st quarter. Copeland Capital Management LLC now owns 6,753 shares of the company’s stock valued at $55,000 after purchasing an additional 2,859 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Townsquare Media in the 1st quarter worth approximately $86,000. Ancora Advisors LLC acquired a new position in shares of Townsquare Media in the 1st quarter worth approximately $122,000. Nuveen LLC acquired a new position in shares of Townsquare Media in the 1st quarter worth approximately $138,000. Finally, Rhumbline Advisers boosted its holdings in shares of Townsquare Media by 23.2% in the 1st quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock worth $147,000 after acquiring an additional 3,393 shares in the last quarter. 71.69% of the stock is currently owned by institutional investors.

Townsquare Media Stock Performance

Shares of TSQ opened at $6.49 on Friday. The firm has a market capitalization of $106.61 million, a price-to-earnings ratio of 3.21, a PEG ratio of 1.94 and a beta of 1.17. The business’s fifty day moving average price is $6.93 and its two-hundred day moving average price is $7.21. Townsquare Media, Inc. has a 52 week low of $6.47 and a 52 week high of $10.79.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $115.45 million for the quarter, compared to analyst estimates of $114.77 million. Townsquare Media had a negative return on equity of 56.87% and a net margin of 7.93%. As a group, research analysts forecast that Townsquare Media, Inc. will post 1.07 EPS for the current year.

Townsquare Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Monday, October 27th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date is Monday, October 27th. Townsquare Media’s dividend payout ratio (DPR) is presently 39.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Townsquare Media in a report on Saturday, September 27th. Barrington Research reissued an “outperform” rating and issued a $13.00 target price on shares of Townsquare Media in a report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Townsquare Media presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Insider Buying and Selling

In other news, Director Stephen A. Kaplan acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were purchased at an average cost of $6.92 per share, for a total transaction of $69,200.00. Following the transaction, the director owned 208,618 shares of the company’s stock, valued at approximately $1,443,636.56. This represents a 5.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.50% of the company’s stock.

Townsquare Media 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.