Townsquare Media, Inc. (NYSE:TSQ) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its stake in Townsquare Media, Inc. (NYSE:TSQ) by 24.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,660 shares of the company’s stock after acquiring an additional 2,481 shares during the period. Rhumbline Advisers’ holdings in Townsquare Media were worth $139,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TSQ. Access Investment Management LLC increased its stake in shares of Townsquare Media by 0.5% in the second quarter. Access Investment Management LLC now owns 396,025 shares of the company’s stock valued at $4,340,000 after purchasing an additional 2,140 shares during the period. Gabelli Funds LLC grew its position in Townsquare Media by 5.1% in the fourth quarter. Gabelli Funds LLC now owns 62,000 shares of the company’s stock worth $655,000 after acquiring an additional 3,000 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Townsquare Media by 8.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,360 shares of the company’s stock worth $465,000 after acquiring an additional 3,469 shares in the last quarter. Empowered Funds LLC boosted its position in Townsquare Media by 8.0% during the first quarter. Empowered Funds LLC now owns 64,125 shares of the company’s stock worth $704,000 after purchasing an additional 4,725 shares during the period. Finally, Ritholtz Wealth Management raised its position in shares of Townsquare Media by 19.8% in the second quarter. Ritholtz Wealth Management now owns 33,841 shares of the company’s stock valued at $371,000 after purchasing an additional 5,600 shares during the period. Institutional investors own 71.69% of the company’s stock.

Wall Street Analyst Weigh In

TSQ has been the subject of several research analyst reports. Barrington Research reissued an “outperform” rating and set a $17.00 price objective on shares of Townsquare Media in a research report on Monday, August 12th. StockNews.com cut Townsquare Media from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

Insider Transactions at Townsquare Media

In other Townsquare Media news, Director Stephen A. Kaplan bought 50,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $10.41 per share, with a total value of $520,500.00. Following the completion of the purchase, the director now owns 137,808 shares in the company, valued at $1,434,581.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Townsquare Media news, COO Erik Hellum sold 9,223 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $10.30, for a total value of $94,996.90. Following the sale, the chief operating officer now owns 607,680 shares in the company, valued at approximately $6,259,104. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen A. Kaplan purchased 50,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $10.41 per share, with a total value of $520,500.00. Following the completion of the purchase, the director now directly owns 137,808 shares in the company, valued at $1,434,581.28. The disclosure for this purchase can be found here. Corporate insiders own 30.50% of the company’s stock.

Townsquare Media Trading Up 1.0 %

Shares of TSQ opened at $10.19 on Monday. The firm has a market capitalization of $156.82 million, a price-to-earnings ratio of -4.01, a P/E/G ratio of 0.88 and a beta of 1.36. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 271.80. Townsquare Media, Inc. has a 12-month low of $8.00 and a 12-month high of $13.57. The stock’s 50-day moving average price is $10.62 and its 200 day moving average price is $11.10.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.28). Townsquare Media had a negative net margin of 19.53% and a negative return on equity of 171.57%. The business had revenue of $118.23 million for the quarter, compared to analyst estimates of $117.99 million. As a group, research analysts predict that Townsquare Media, Inc. will post 0.97 earnings per share for the current year.

Townsquare Media Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date is Tuesday, October 15th. Townsquare Media’s dividend payout ratio is currently -31.10%.

Townsquare Media Company Profile

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.