Townsquare Media (NYSE:TSQ) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Townsquare Media (NYSE:TSQ) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Other research analysts have also issued research reports about the stock. Noble Financial reiterated an “outperform” rating and set a $21.00 price objective on shares of Townsquare Media in a research note on Friday, January 24th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price target on shares of Townsquare Media in a research report on Tuesday.

Townsquare Media Trading Up 0.4 %

Shares of NYSE:TSQ opened at $7.89 on Wednesday. The company has a market capitalization of $122.73 million, a PE ratio of -2.91, a P/E/G ratio of 0.58 and a beta of 1.33. Townsquare Media has a 12-month low of $7.56 and a 12-month high of $13.57. The business’s fifty day simple moving average is $8.67 and its 200-day simple moving average is $9.51.

Townsquare Media (NYSE:TSQ) last posted its earnings results on Monday, March 17th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The company had revenue of $117.81 million for the quarter, compared to analyst estimates of $116.41 million. Townsquare Media had a negative return on equity of 57.10% and a negative net margin of 8.84%. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Research analysts predict that Townsquare Media will post 1.07 EPS for the current year.

Townsquare Media Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 17th will be paid a dividend of $0.20 per share. This is a positive change from Townsquare Media’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.13%. Townsquare Media’s payout ratio is presently -29.15%.

Insider Activity

In other Townsquare Media news, EVP Scott Schatz sold 4,594 shares of Townsquare Media stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $9.65, for a total transaction of $44,332.10. Following the completion of the sale, the executive vice president now owns 31,366 shares of the company’s stock, valued at approximately $302,681.90. The trade was a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Claire Marie Yenicay sold 5,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $9.22, for a total value of $46,100.00. Following the sale, the executive vice president now owns 214,953 shares in the company, valued at approximately $1,981,866.66. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,594 shares of company stock worth $138,632 over the last 90 days. 30.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds and other institutional investors have recently bought and sold shares of TSQ. Geode Capital Management LLC lifted its position in Townsquare Media by 0.4% during the third quarter. Geode Capital Management LLC now owns 278,985 shares of the company’s stock valued at $2,835,000 after purchasing an additional 1,151 shares during the period. BNP Paribas Financial Markets grew its position in 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 during the period. Sei Investments Co. raised its stake in shares of Townsquare Media by 2.1% during the 4th quarter. Sei Investments Co. now owns 72,426 shares of the company’s stock valued at $658,000 after buying an additional 1,513 shares during the last quarter. Access Investment Management LLC lifted its holdings in shares of Townsquare Media by 0.5% in the 4th quarter. Access Investment Management LLC now owns 398,450 shares of the company’s stock valued at $3,622,000 after buying an additional 1,985 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Townsquare Media by 56.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,296 shares of the company’s stock worth $57,000 after buying an additional 2,259 shares during the last quarter. Institutional investors and hedge funds 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.