Barrington Research Cuts Townsquare Media (NYSE:TSQ) Price Target to $10.00

Townsquare Media (NYSE:TSQ) had its price target reduced by Barrington Research from $12.00 to $10.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Townsquare Media in a research report on Monday, December 29th. Wall Street Zen downgraded Townsquare Media from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Townsquare Media has a consensus rating of “Hold” and a consensus target price of $15.50.

Townsquare Media Stock Down 5.7%

Shares of NYSE:TSQ opened at $4.98 on Tuesday. The stock has a market capitalization of $81.97 million, a PE ratio of -7.01, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96. The firm’s 50 day moving average price is $6.56 and its 200-day moving average price is $6.13. Townsquare Media has a twelve month low of $4.30 and a twelve month high of $9.31.

Townsquare Media (NYSE:TSQ) last announced its earnings results on Monday, March 16th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.06). Townsquare Media had a negative net margin of 2.58% and a negative return on equity of 13.74%. The business had revenue of $106.50 million for the quarter, compared to the consensus estimate of $106.40 million. Analysts expect that Townsquare Media will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Monday, April 27th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, April 27th. This represents a $0.80 dividend on an annualized basis and a yield of 16.1%. Townsquare Media’s dividend payout ratio (DPR) is presently -112.68%.

Insider Buying and Selling

In other Townsquare Media news, COO Erik Hellum sold 6,522 shares of Townsquare Media stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $5.57, for a total transaction of $36,327.54. Following the transaction, the chief operating officer owned 969,648 shares of the company’s stock, valued at $5,400,939.36. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 19,652 shares of company stock worth $106,335. 30.50% of the stock is currently owned by company insiders.

Institutional Trading of Townsquare Media

Institutional investors and hedge funds have recently modified their holdings of the company. Truffle Hound Capital LLC bought a new position in Townsquare Media in the 2nd quarter worth $1,186,000. RBF Capital LLC raised its holdings in Townsquare Media by 862.7% during the second quarter. RBF Capital LLC now owns 422,931 shares of the company’s stock valued at $3,345,000 after acquiring an additional 379,000 shares during the period. American Century Companies Inc. lifted its position in shares of Townsquare Media by 18.0% in the second quarter. American Century Companies Inc. now owns 856,651 shares of the company’s stock valued at $6,776,000 after acquiring an additional 130,537 shares in the last quarter. Teton Advisors LLC purchased a new position in shares of Townsquare Media in the third quarter valued at about $780,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Townsquare Media in the second quarter worth about $158,000. 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.