Townsquare Media, Inc. (TSQ) To Go Ex-Dividend on July 27th

Townsquare Media, Inc. (NYSE:TSQ) announced a quarterly dividend on Friday, May 1st. Shareholders of record on Monday, July 27th will be given a dividend of 0.20 per share on Monday, August 3rd. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend is Monday, July 27th.

Townsquare Media has raised its dividend payment by an average of 0.6%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Townsquare Media has a payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Townsquare Media to earn $0.49 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 163.3%.

Townsquare Media Stock Performance

Shares of NYSE:TSQ opened at $6.29 on Friday. The company’s fifty day moving average is $6.61 and its 200-day moving average is $6.44. Townsquare Media has a 52 week low of $4.30 and a 52 week high of $7.97. The company has a market capitalization of $107.63 million, a PE ratio of -14.64, a P/E/G ratio of 2.54 and a beta of 1.20.

Townsquare Media (NYSE:TSQ) last announced its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%.The firm had revenue of $96.10 million for the quarter, compared to analyst estimates of $96.46 million. On average, analysts forecast that Townsquare Media will post 0.21 EPS for the current year.

Insider Activity

In other news, COO Erik Hellum sold 35,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total transaction of $225,400.00. Following the sale, the chief operating officer directly owned 914,542 shares of the company’s stock, valued at $5,889,650.48. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert L. Worshek sold 34,299 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $6.62, for a total transaction of $227,059.38. Following the completion of the sale, the chief accounting officer directly owned 142,722 shares of the company’s stock, valued at approximately $944,819.64. This represents a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 30.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TSQ. Goldman Sachs Group Inc. increased its stake in shares of Townsquare Media by 52.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock valued at $2,212,000 after buying an additional 93,753 shares during the period. Beck Mack & Oliver LLC lifted its stake in shares of Townsquare Media by 8.6% during the fourth quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock valued at $5,518,000 after acquiring an additional 85,000 shares during the period. Daytona Street Capital LLC bought a new position in Townsquare Media in the fourth quarter valued at about $283,000. CastleKnight Management LP bought a new position in Townsquare Media in the fourth quarter valued at about $209,000. Finally, Jane Street Group LLC increased its position in Townsquare Media by 289.3% in the second quarter. Jane Street Group LLC now owns 46,917 shares of the company’s stock worth $371,000 after purchasing an additional 34,866 shares during the period. 71.69% of the stock is currently owned by institutional investors.

About Townsquare Media

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.