ValuEngine cut shares of Townsquare Media (NYSE:TSQ) from a sell rating to a strong sell rating in a research report released on Wednesday, October 31st.
TSQ has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Townsquare Media from a strong-buy rating to a hold rating in a report on Thursday, October 18th. Noble Financial reiterated a buy rating on shares of Townsquare Media in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $9.75.
Shares of NYSE TSQ traded up $0.06 during mid-day trading on Wednesday, hitting $6.28. The company’s stock had a trading volume of 29,121 shares, compared to its average volume of 66,662. The firm has a market capitalization of $119.23 million, a PE ratio of 8.49, a price-to-earnings-growth ratio of 1.71 and a beta of 1.38. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 1.55. Townsquare Media has a one year low of $6.03 and a one year high of $9.79.
Townsquare Media (NYSE:TSQ) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Townsquare Media had a positive return on equity of 6.11% and a negative net margin of 9.68%. The firm had revenue of $114.07 million for the quarter, compared to the consensus estimate of $112.59 million. As a group, equities research analysts anticipate that Townsquare Media will post 0.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, December 27th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, December 26th. This represents a $0.30 dividend on an annualized basis and a yield of 4.78%. Townsquare Media’s payout ratio is 40.54%.
In other news, Director Stephen A. Kaplan bought 10,000 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average cost of $6.40 per share, for a total transaction of $64,000.00. Following the completion of the acquisition, the director now owns 22,135 shares in the company, valued at $141,664. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 26.70% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new stake in shares of Townsquare Media in the second quarter valued at about $1,637,000. Acadian Asset Management LLC bought a new stake in shares of Townsquare Media in the second quarter valued at about $966,000. Dimensional Fund Advisors LP boosted its position in shares of Townsquare Media by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 488,076 shares of the company’s stock valued at $3,158,000 after acquiring an additional 101,534 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Townsquare Media by 427.0% in the third quarter. JPMorgan Chase & Co. now owns 83,362 shares of the company’s stock valued at $653,000 after acquiring an additional 67,545 shares during the period. Finally, Bailard Inc. bought a new stake in shares of Townsquare Media in the third quarter valued at about $404,000. 43.01% of the stock is owned by hedge funds and other institutional investors.
About Townsquare Media
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. It operates through two segments, Local Marketing Solutions and Entertainment. The Local Marketing Solutions segment provides broadcast and digital solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications.
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