Townsquare Media, Inc. (NYSE:TSQ) Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC grew its holdings in shares of Townsquare Media, Inc. (NYSE:TSQ) by 5.9% in the fourth quarter, HoldingsChannel reports. The fund owned 54,000 shares of the company’s stock after buying an additional 3,000 shares during the period. Gabelli Funds LLC’s holdings in Townsquare Media were worth $491,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in Townsquare Media by 56.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,296 shares of the company’s stock worth $57,000 after purchasing an additional 2,259 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of Townsquare Media during the 4th quarter worth about $69,000. Russell Investments Group Ltd. lifted its stake in shares of Townsquare Media by 1,086.0% in the 4th quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company’s stock worth $76,000 after acquiring an additional 7,700 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in shares of Townsquare Media by 47.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 27,200 shares of the company’s stock valued at $247,000 after acquiring an additional 8,700 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in shares of Townsquare Media by 122.8% during the fourth quarter. Trexquant Investment LP now owns 28,353 shares of the company’s stock valued at $258,000 after acquiring an additional 15,628 shares during the period. Institutional investors own 71.69% of the company’s stock.

Townsquare Media Stock Performance

Shares of NYSE:TSQ opened at $6.94 on Friday. The stock has a market capitalization of $111.79 million, a price-to-earnings ratio of -2.56, a PEG ratio of 0.58 and a beta of 1.01. Townsquare Media, Inc. has a 1-year low of $6.75 and a 1-year high of $12.92. The company has a 50 day moving average price of $7.98 and a 200 day moving average price of $9.13.

Townsquare Media (NYSE:TSQ) last announced its earnings results on Monday, March 17th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. The company had revenue of $117.81 million for the quarter, compared to analyst estimates of $116.41 million. Townsquare Media had a negative return on equity of 57.10% and a negative net margin of 8.84%. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, sell-side analysts expect that Townsquare Media, Inc. will post 1.07 EPS for the current fiscal year.

Townsquare Media Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.54%. This is a positive change from Townsquare Media’s previous quarterly dividend of $0.20. Townsquare Media’s payout ratio is currently -69.57%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Townsquare Media from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 target price on shares of Townsquare Media in a research note on Tuesday, March 18th. Finally, Noble Financial reiterated an “outperform” rating and issued a $21.00 price target on shares of Townsquare Media in a research report on Friday, January 24th.

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.