Gabelli Funds LLC Sells 6,500 Shares of Townsquare Media, Inc. (NYSE:TSQ)

Gabelli Funds LLC lowered its stake in shares of Townsquare Media, Inc. (NYSE:TSQ) by 11.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,000 shares of the company’s stock after selling 6,500 shares during the period. Gabelli Funds LLC owned 0.34% of Townsquare Media worth $570,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TSQ. Janney Montgomery Scott LLC raised its position in Townsquare Media by 17.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 38,891 shares of the company’s stock worth $411,000 after acquiring an additional 5,852 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Townsquare Media by 8.0% during the 1st quarter. Empowered Funds LLC now owns 64,125 shares of the company’s stock worth $704,000 after purchasing an additional 4,725 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 period. O Shaughnessy Asset Management LLC lifted its stake in Townsquare Media by 12.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 75,065 shares of the company’s stock valued at $824,000 after purchasing an additional 8,079 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Townsquare Media during the first quarter worth about $124,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSQ shares. Barrington Research restated an “outperform” rating and issued a $17.00 price objective on shares of Townsquare Media in a research note on Monday, August 12th. StockNews.com cut Townsquare Media from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Townsquare Media Stock Down 1.2 %

Townsquare Media stock opened at $10.09 on Friday. Townsquare Media, Inc. has a twelve month low of $8.00 and a twelve month high of $13.57. The stock has a market cap of $155.29 million, a P/E ratio of -3.97, a P/E/G ratio of 0.88 and a beta of 1.36. The company’s 50-day moving average price is $10.64 and its two-hundred day moving average price is $11.09. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 271.80.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.28). The firm had revenue of $118.23 million for the quarter, compared to analyst estimates of $117.99 million. Townsquare Media had a negative return on equity of 171.57% and a negative net margin of 19.53%. As a group, analysts expect that Townsquare Media, Inc. will post 0.97 EPS for the current year.

Townsquare Media Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a $0.1975 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 7.83%. Townsquare Media’s payout ratio is presently -31.10%.

Insider Activity at Townsquare Media

In other Townsquare Media news, COO Erik Hellum sold 9,223 shares of Townsquare Media stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $10.30, for a total value of $94,996.90. Following the completion of the sale, the chief operating officer now owns 607,680 shares in the company, valued at approximately $6,259,104. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Townsquare Media news, COO Erik Hellum sold 9,223 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $10.30, for a total transaction of $94,996.90. Following the transaction, the chief operating officer now owns 607,680 shares in the company, valued at approximately $6,259,104. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen A. Kaplan bought 50,000 shares of Townsquare Media stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $10.41 per share, for a total transaction of $520,500.00. Following the completion of the acquisition, the director now owns 137,808 shares in the company, valued at approximately $1,434,581.28. The disclosure for this purchase can be found here. 30.50% of the stock is currently owned by corporate insiders.

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.