Townsquare Media (NYSE:TSQ) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Townsquare Media (NYSE:TSQ) from a buy rating to a hold rating in a report released on Wednesday morning.

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

Townsquare Media Trading Down 0.9 %

Shares of NYSE:TSQ opened at $7.97 on Wednesday. Townsquare Media has a 12-month low of $7.56 and a 12-month high of $13.57. The stock’s 50-day moving average price is $8.72 and its two-hundred day moving average price is $9.54. The firm has a market cap of $123.83 million, a price-to-earnings ratio of -2.94, a PEG ratio of 0.58 and a beta of 1.33.

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

Townsquare Media Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 17th will be issued a $0.20 dividend. This is an increase from Townsquare Media’s previous quarterly dividend of $0.20. This represents a $0.80 annualized dividend and a yield of 10.04%. The ex-dividend date of this dividend is Thursday, April 17th. Townsquare Media’s dividend payout ratio is currently -29.15%.

Insider Buying and Selling at Townsquare Media

In other Townsquare Media news, EVP Claire Marie Yenicay sold 5,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $9.65, for a total value of $48,250.00. Following the completion of the sale, the executive vice president now owns 207,393 shares of the company’s stock, valued at $2,001,342.45. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Schatz sold 4,594 shares of Townsquare Media stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $9.65, for a total transaction of $44,332.10. Following the sale, the executive vice president now owns 31,366 shares in the company, valued at $302,681.90. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,594 shares of company stock valued at $186,882 over the last three months. 30.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Townsquare Media

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSQ. Two Sigma Advisers LP increased its position in shares of Townsquare Media by 130.7% during the fourth quarter. Two Sigma Advisers LP now owns 103,600 shares of the company’s stock worth $942,000 after acquiring an additional 58,700 shares during the last quarter. Millennium Management LLC increased its holdings in Townsquare Media by 129.9% during the 4th quarter. Millennium Management LLC now owns 92,557 shares of the company’s stock worth $841,000 after purchasing an additional 52,299 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Townsquare Media in the 4th quarter valued at approximately $369,000. Northern Trust Corp boosted its stake in shares of Townsquare Media by 25.1% during the 4th quarter. Northern Trust Corp now owns 144,847 shares of the company’s stock valued at $1,317,000 after buying an additional 29,019 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Townsquare Media by 77.6% during the 4th quarter. Two Sigma Investments LP now owns 62,859 shares of the company’s stock valued at $571,000 after buying an additional 27,458 shares during the last quarter. 71.69% of the stock is owned by hedge funds and other institutional investors.

Townsquare Media Company 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.