Townsquare Media (NYSE:TSQ) Cut to “Hold” at StockNews.com

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

Separately, Barrington Research reiterated an outperform rating and set a $17.00 price target on shares of Townsquare Media in a research report on Monday, July 15th.

Townsquare Media Stock Performance

TSQ opened at $10.62 on Thursday. The firm’s fifty day simple moving average is $10.99 and its two-hundred day simple moving average is $11.23. Townsquare Media has a 52-week low of $8.00 and a 52-week high of $13.57. The company has a market cap of $160.59 million, a price-to-earnings ratio of -4.18, a PEG ratio of 0.67 and a beta of 1.34. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 271.80.

Townsquare Media (NYSE:TSQ) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Townsquare Media had a positive return on equity of 98.45% and a negative net margin of 9.19%. The firm had revenue of $99.63 million during the quarter, compared to analyst estimates of $98.46 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Equities analysts anticipate that Townsquare Media will post 1.37 earnings per share for the current fiscal year.

Townsquare Media Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 7.44%. The ex-dividend date is Tuesday, October 15th. Townsquare Media’s dividend payout ratio is currently -31.10%.

Insider Activity

In related news, CAO Robert L. Worshek sold 15,980 shares of Townsquare Media stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $11.06, for a total transaction of $176,738.80. Following the transaction, the chief accounting officer now owns 58,097 shares in the company, valued at $642,552.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 30.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new stake in Townsquare Media during the second quarter worth about $57,000. Mackenzie Financial Corp purchased a new stake in shares of Townsquare Media in the 4th quarter valued at approximately $107,000. Virtu Financial LLC acquired a new stake in shares of Townsquare Media during the 1st quarter worth approximately $124,000. Rhumbline Advisers raised its position in shares of Townsquare Media by 24.4% during the 2nd quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock valued at $139,000 after buying an additional 2,481 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new position in Townsquare Media in the second quarter valued at approximately $232,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

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.