Townsquare Media (NYSE:TSQ) Upgraded at StockNews.com

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

A number of other research firms have also recently commented on TSQ. Barrington Research restated an “outperform” rating and set a $15.00 target price on shares of Townsquare Media in a research report on Tuesday, March 18th. Noble Financial restated an “outperform” rating and issued a $21.00 price objective on shares of Townsquare Media in a research report on Friday, January 24th.

Townsquare Media Price Performance

NYSE:TSQ opened at $8.32 on Thursday. The company’s fifty day moving average price is $8.60 and its 200-day moving average price is $9.46. Townsquare Media has a 1-year low of $7.56 and a 1-year high of $13.57. The firm has a market capitalization of $134.03 million, a P/E ratio of -3.07, a PEG ratio of 0.58 and a beta of 1.33.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings data on Monday, March 17th. The company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. Townsquare Media had a negative return on equity of 57.10% and a negative net margin of 8.84%. The business had revenue of $117.81 million for the quarter, compared to analyst estimates of $116.41 million. During the same quarter in the prior year, the firm posted $0.34 EPS. Equities analysts anticipate that Townsquare Media will post 1.07 EPS for the current fiscal year.

Townsquare Media Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, April 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.62%. This is a boost from Townsquare Media’s previous quarterly dividend of $0.20. Townsquare Media’s payout ratio is currently -69.57%.

Insider Activity at Townsquare Media

In other news, EVP Claire Marie Yenicay sold 5,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $9.22, for a total transaction of $46,100.00. Following the completion of the sale, the executive vice president now owns 214,953 shares of the company’s stock, valued at $1,981,866.66. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 30.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Townsquare Media

Institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in shares of Townsquare Media by 56.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,296 shares of the company’s stock worth $57,000 after acquiring an additional 2,259 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Townsquare Media by 28.9% in the third quarter. BNP Paribas Financial Markets now owns 6,698 shares of the company’s stock valued at $68,000 after purchasing an additional 1,503 shares during the period. Wealthfront Advisers LLC acquired a new stake in Townsquare Media during the fourth quarter worth about $69,000. Russell Investments Group Ltd. raised its stake in Townsquare Media by 1,086.0% during the fourth quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company’s stock worth $76,000 after purchasing an additional 7,700 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in Townsquare Media by 47.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 27,200 shares of the company’s stock valued at $247,000 after purchasing an additional 8,700 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

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.