Bank of New York Mellon Corp Boosts Holdings in Townsquare Media, Inc. (NYSE:TSQ)

Bank of New York Mellon Corp grew its holdings in Townsquare Media, Inc. (NYSE:TSQ) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,469 shares of the company’s stock after purchasing an additional 6,768 shares during the quarter. Bank of New York Mellon Corp owned 1.06% of Townsquare Media worth $1,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TSQ. Vanguard Group Inc. raised its holdings in Townsquare Media by 2.0% during the first quarter. Vanguard Group Inc. now owns 603,568 shares of the company’s stock worth $6,627,000 after purchasing an additional 12,073 shares in the last quarter. Virtu Financial LLC acquired a new stake in Townsquare Media during the first quarter worth approximately $124,000. O Shaughnessy Asset Management LLC raised its holdings in Townsquare Media by 12.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 75,065 shares of the company’s stock worth $824,000 after purchasing an additional 8,079 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Townsquare Media by 17.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 38,891 shares of the company’s stock worth $411,000 after purchasing an additional 5,852 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Townsquare Media Stock Performance

Shares of TSQ opened at $9.99 on Thursday. The company has a debt-to-equity ratio of 271.80, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $153.75 million, a P/E ratio of -3.93, a P/E/G ratio of 0.84 and a beta of 1.36. The company’s fifty day moving average is $10.80 and its two-hundred day moving average is $11.12. Townsquare Media, Inc. has a 1 year low of $8.00 and a 1 year high of $13.57.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.28). The firm had revenue of $118.23 million during the quarter, compared to analyst estimates of $117.99 million. Townsquare Media had a negative net margin of 19.53% and a negative return on equity of 171.57%. On average, sell-side 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 announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.1975 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.79 annualized dividend and a dividend yield of 7.91%. Townsquare Media’s payout ratio is currently -31.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $17.00 price objective on shares of Townsquare Media in a report on Monday, August 12th. StockNews.com cut shares of Townsquare Media from a “buy” rating to a “hold” rating in a report on Thursday, August 8th.

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.