Townsquare Media (NYSE:TSQ) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Townsquare Media (NYSE:TSQ) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other equities research analysts also recently issued reports on the company. Barrington Research restated an “outperform” rating and set a $10.00 price objective on shares of Townsquare Media in a report on Monday, May 11th. Weiss Ratings upgraded Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Townsquare Media Stock Performance

Shares of NYSE:TSQ opened at $6.08 on Friday. The company has a market cap of $103.88 million, a P/E ratio of -14.13, a PEG ratio of 1.29 and a beta of 1.21. Townsquare Media has a one year low of $4.30 and a one year high of $9.31. The business’s 50-day simple moving average is $6.27 and its 200 day simple moving average is $5.98.

Townsquare Media (NYSE:TSQ) last announced its earnings results on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. The company had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $96.46 million. Analysts predict that Townsquare Media will post 0.39 earnings per share for the current year.

Townsquare Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 27th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, July 27th. This represents a $0.80 annualized dividend and a yield of 13.2%. Townsquare Media’s payout ratio is currently -186.05%.

Insider Transactions at Townsquare Media

In other Townsquare Media news, EVP Scott Schatz sold 28,980 shares of Townsquare Media stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $5.08, for a total transaction of $147,218.40. Following the sale, the executive vice president directly owned 123,977 shares in the company, valued at $629,803.16. The trade was a 18.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 30.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TSQ. Crews Bank & Trust acquired a new position in shares of Townsquare Media in the 4th quarter worth approximately $26,000. Raymond James Financial Inc. acquired a new position in shares of Townsquare Media in the 2nd quarter worth approximately $33,000. AlphaCore Capital LLC acquired a new position in shares of Townsquare Media in the 3rd quarter worth approximately $69,000. Algert Global LLC acquired a new position in shares of Townsquare Media in the 3rd quarter worth approximately $72,000. Finally, XTX Topco Ltd acquired a new position in shares of Townsquare Media in the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Townsquare Media Company Profile

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.