Geode Capital Management LLC trimmed its holdings in Townsquare Media Inc (NYSE:TSQ) by 32.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,738 shares of the company’s stock after selling 30,061 shares during the period. Geode Capital Management LLC’s holdings in Townsquare Media were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC acquired a new stake in Townsquare Media during the fourth quarter worth about $54,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Townsquare Media by 25.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,098 shares of the company’s stock worth $82,000 after purchasing an additional 4,100 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in Townsquare Media during the fourth quarter worth about $86,000. Northern Trust Corp increased its position in Townsquare Media by 79.8% during the fourth quarter. Northern Trust Corp now owns 38,589 shares of the company’s stock worth $157,000 after purchasing an additional 17,132 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Townsquare Media by 138.2% during the third quarter. Wells Fargo & Company MN now owns 21,201 shares of the company’s stock worth $166,000 after purchasing an additional 12,301 shares during the last quarter. Institutional investors and hedge funds own 40.97% of the company’s stock.
Shares of TSQ stock opened at $5.95 on Thursday. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.79. The stock has a market cap of $115.56 million, a price-to-earnings ratio of 5.77, a P/E/G ratio of 0.49 and a beta of 2.08. Townsquare Media Inc has a 1-year low of $3.95 and a 1-year high of $9.79.
Townsquare Media (NYSE:TSQ) last announced its earnings results on Tuesday, May 7th. The company reported $0.09 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. The company had revenue of $93.68 million during the quarter, compared to analyst estimates of $92.72 million. Townsquare Media had a negative net margin of 2.43% and a positive return on equity of 8.52%. Equities research analysts anticipate that Townsquare Media Inc will post 1.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Thursday, June 27th. Townsquare Media’s dividend payout ratio (DPR) is presently 29.13%.
TSQ has been the subject of several recent analyst reports. ValuEngine cut shares of Townsquare Media from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 13th. Noble Financial restated a “buy” rating and set a $12.00 price objective on shares of Townsquare Media in a research report on Thursday, March 14th. Zacks Investment Research cut shares of Townsquare Media from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Royal Bank of Canada set a $8.00 price objective on shares of Townsquare Media and gave the stock a “buy” rating in a research report on Tuesday, March 26th.
In other Townsquare Media news, Director David Lebow sold 6,700 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $5.34, for a total transaction of $35,778.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.80% of the company’s stock.
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Townsquare Media Company Profile
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. The company provides advertising and marketing solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications.
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