Townsquare Media (NYSE:TSQ) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Townsquare Media (NYSE:TSQ) from a strong-buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other research firms also recently weighed in on TSQ. Noble Financial restated a “buy” rating and issued a $21.00 price target on shares of Townsquare Media in a research note on Friday, May 9th. Barrington Research lowered their target price on Townsquare Media from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 9th.

Townsquare Media Stock Up 0.3%

Townsquare Media stock opened at $7.07 on Friday. The business has a 50-day simple moving average of $7.33 and a two-hundred day simple moving average of $8.66. Townsquare Media has a 52-week low of $6.47 and a 52-week high of $12.32. The company has a market cap of $113.96 million, a P/E ratio of -2.61, a P/E/G ratio of 0.58 and a beta of 1.08.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. The business had revenue of $98.68 million for the quarter, compared to the consensus estimate of $98.50 million. Research analysts anticipate that Townsquare Media will post 1.07 EPS for the current fiscal year.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 11.32%. The ex-dividend date of this dividend is Friday, July 18th. Townsquare Media’s dividend payout ratio is currently -60.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Copeland Capital Management LLC grew its stake in Townsquare Media by 73.4% in the first quarter. Copeland Capital Management LLC now owns 6,753 shares of the company’s stock worth $55,000 after purchasing an additional 2,859 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Townsquare Media by 56.0% during the fourth quarter. Wells Fargo & Company MN now owns 6,296 shares of the company’s stock valued at $57,000 after purchasing an additional 2,259 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in Townsquare Media during the fourth quarter valued at approximately $69,000. Russell Investments Group Ltd. lifted its holdings in Townsquare Media by 1,086.0% during the fourth quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company’s stock worth $76,000 after buying an additional 7,700 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Townsquare Media during the 1st quarter valued at $86,000. Institutional investors own 71.69% of the company’s stock.

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.