Townsquare Media (NYSE:TSQ) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Townsquare Media (NYSE:TSQ) from a buy rating to a hold rating in a report released on Saturday.

A number of other research firms also recently issued reports on TSQ. Zacks Research downgraded Townsquare Media from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Barrington Research restated an “outperform” rating and issued a $10.00 target price on shares of Townsquare Media in a research note on Monday, May 11th. Finally, Weiss Ratings raised Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Townsquare Media has an average rating of “Reduce” and a consensus target price of $10.00.

Townsquare Media Trading Down 8.0%

Shares of NYSE TSQ opened at $5.96 on Friday. The firm has a market cap of $101.92 million, a PE ratio of -2.07, a PEG ratio of 2.57 and a beta of 1.22. Townsquare Media has a 1-year low of $4.30 and a 1-year high of $7.97. The company has a fifty day moving average price of $6.53 and a 200 day moving average price of $6.49.

Townsquare Media (NYSE:TSQ) last released its earnings results on Thursday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Townsquare Media had a negative return on equity of 5.59% and a negative net margin of 11.82%.The firm had revenue of $114.00 million during the quarter, compared to analysts’ expectations of $114.74 million. Equities research analysts forecast that Townsquare Media will post 0.21 EPS for the current year.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 26th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date of this dividend is Monday, October 26th. Townsquare Media’s dividend payout ratio is presently -27.78%.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TSQ. XTX Topco Ltd bought a new position in Townsquare Media during the fourth quarter worth $83,000. Susquehanna International Group LLP acquired a new position in shares of Townsquare Media in the third quarter valued at $144,000. Algert Global LLC bought a new position in shares of Townsquare Media in the third quarter valued at about $72,000. Raymond James Financial Inc. bought a new position in shares of Townsquare Media in the second quarter valued at about $33,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Townsquare Media during the 2nd quarter worth about $101,000. 71.69% of the stock is owned by institutional investors and hedge funds.

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.