Ritholtz Wealth Management Has $212,000 Position in Townsquare Media, Inc. (NYSE:TSQ)

Ritholtz Wealth Management cut its stake in Townsquare Media, Inc. (NYSE:TSQ) by 38.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,915 shares of the company’s stock after selling 12,926 shares during the quarter. Ritholtz Wealth Management owned approximately 0.14% of Townsquare Media worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC grew its stake in Townsquare Media by 3.9% in the second quarter. Renaissance Technologies LLC now owns 482,352 shares of the company’s stock valued at $5,287,000 after purchasing an additional 17,900 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Townsquare Media in the 2nd quarter valued at approximately $57,000. Boyar Asset Management Inc. increased its holdings in Townsquare Media by 8.7% in the second quarter. Boyar Asset Management Inc. now owns 39,172 shares of the company’s stock worth $429,000 after buying an additional 3,150 shares during the last quarter. Privium Fund Management UK Ltd bought a new position in Townsquare Media during the second quarter valued at approximately $232,000. Finally, Rhumbline Advisers lifted its stake in Townsquare Media by 24.4% in the second quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock valued at $139,000 after acquiring an additional 2,481 shares during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Townsquare Media from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Barrington Research restated an “outperform” rating and set a $17.00 target price on shares of Townsquare Media in a report on Monday, August 12th.

Insiders Place Their Bets

In related news, Director Stephen A. Kaplan bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average price of $10.41 per share, with a total value of $520,500.00. Following the completion of the transaction, the director now owns 137,808 shares of the company’s stock, valued at $1,434,581.28. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Stephen A. Kaplan purchased 50,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of $10.41 per share, for a total transaction of $520,500.00. Following the completion of the purchase, the director now directly owns 137,808 shares of the company’s stock, valued at approximately $1,434,581.28. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Erik Hellum sold 18,166 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $10.05, for a total value of $182,568.30. Following the completion of the sale, the chief operating officer now owns 562,680 shares of the company’s stock, valued at $5,654,934. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,585 shares of company stock valued at $289,812 in the last three months. Company insiders own 34.90% of the company’s stock.

Townsquare Media Trading Down 0.9 %

Shares of TSQ stock opened at $10.32 on Friday. Townsquare Media, Inc. has a 12 month low of $8.00 and a 12 month high of $13.57. The company has a market cap of $158.82 million, a PE ratio of -1.84, a price-to-earnings-growth ratio of 0.91 and a beta of 1.35. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 271.80. The business’s 50 day moving average is $10.26 and its two-hundred day moving average is $11.04.

Townsquare Media (NYSE:TSQ) last posted its earnings results on Wednesday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.28). Townsquare Media had a negative net margin of 19.53% and a negative return on equity of 171.57%. The firm had revenue of $118.23 million during the quarter, compared to analyst estimates of $117.99 million. Equities analysts predict 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. Shareholders of record on Tuesday, October 15th will be issued a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date of this dividend is Tuesday, October 15th. Townsquare Media’s dividend payout ratio (DPR) is currently -14.08%.

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.