Townsquare Media (NYSE:TSQ) Stock Rating Lowered by StockNews.com

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

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

Townsquare Media Stock Down 7.3 %

TSQ stock opened at $10.62 on Thursday. The firm’s 50-day moving average is $10.99 and its two-hundred day moving average is $11.23. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 271.80. The company has a market capitalization of $160.59 million, a price-to-earnings ratio of -4.18, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. Townsquare Media has a 52 week low of $8.00 and a 52 week high of $13.57.

Townsquare Media (NYSE:TSQ) last released its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $0.08 earnings per share. On average, analysts forecast that Townsquare Media will post 1.37 earnings per share for the current fiscal year.

Townsquare Media Cuts Dividend

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

Insider Buying and Selling at Townsquare Media

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

Institutional Trading of Townsquare Media

Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its position in Townsquare Media by 3.9% in the 2nd quarter. Renaissance Technologies LLC now owns 482,352 shares of the company’s stock worth $5,287,000 after buying an additional 17,900 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Townsquare Media in the second quarter worth $57,000. Boyar Asset Management Inc. raised its holdings in shares of Townsquare Media by 8.7% during the second quarter. Boyar Asset Management Inc. now owns 39,172 shares of the company’s stock worth $429,000 after acquiring an additional 3,150 shares in the last quarter. Privium Fund Management UK Ltd acquired a new stake in Townsquare Media during the second quarter valued at $232,000. Finally, Rhumbline Advisers grew its stake in Townsquare Media by 24.4% in the second quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock valued at $139,000 after purchasing an additional 2,481 shares in the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

About Townsquare Media

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.