Townsquare Media (NYSE:TSQ) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Townsquare Media (NYSE:TSQ) from a hold rating to a buy rating in a research note published on Friday.

Several other analysts also recently issued reports on TSQ. Barrington Research reissued an outperform rating and issued a $17.00 price target on shares of Townsquare Media in a research note on Tuesday, April 2nd. Noble Financial lifted their target price on Townsquare Media from $20.00 to $21.00 and gave the company an outperform rating in a research report on Monday, April 1st. Finally, Guggenheim boosted their target price on Townsquare Media from $12.00 to $12.50 and gave the company a buy rating in a research note on Wednesday, March 20th.

Townsquare Media Trading Up 3.4 %

NYSE TSQ opened at $12.31 on Friday. The stock has a 50-day simple moving average of $11.21 and a 200 day simple moving average of $10.35. The company has a market capitalization of $204.72 million, a PE ratio of -4.38, a P/E/G ratio of 0.65 and a beta of 1.37. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 50.41. Townsquare Media has a 12 month low of $8.00 and a 12 month high of $13.57.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Friday, March 15th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. Townsquare Media had a negative net margin of 9.90% and a positive return on equity of 55.40%. The company had revenue of $114.79 million during the quarter, compared to analysts’ expectations of $111.78 million. Research analysts forecast that Townsquare Media will post 1.54 EPS for the current year.

Townsquare Media Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a dividend of $0.198 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 6.43%. This is an increase from Townsquare Media’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, April 4th. Townsquare Media’s dividend payout ratio is currently -28.83%.

Insider Activity

In related news, CEO Bill Wilson sold 391,420 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $12.36, for a total transaction of $4,837,951.20. Following the sale, the chief executive officer now owns 2,139,135 shares in the company, valued at $26,439,708.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Townsquare Media news, COO Erik Hellum sold 3,380 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $11.03, for a total transaction of $37,281.40. Following the sale, the chief operating officer now directly owns 736,736 shares of the company’s stock, valued at $8,126,198.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bill Wilson sold 391,420 shares of Townsquare Media stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $12.36, for a total transaction of $4,837,951.20. Following the completion of the transaction, the chief executive officer now directly owns 2,139,135 shares of the company’s stock, valued at approximately $26,439,708.60. The disclosure for this sale can be found here. Insiders sold 2,886,934 shares of company stock worth $35,653,276 in the last quarter. Corporate insiders own 34.90% of the company’s stock.

Institutional Investors Weigh In On Townsquare Media

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in Townsquare Media by 22.2% during the second quarter. Barclays PLC now owns 12,922 shares of the company’s stock worth $154,000 after buying an additional 2,345 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Townsquare Media by 0.3% during the 3rd quarter. American Century Companies Inc. now owns 818,235 shares of the company’s stock worth $7,135,000 after acquiring an additional 2,504 shares during the last quarter. Gabelli Funds LLC raised its stake in Townsquare Media by 5.1% in the 4th quarter. Gabelli Funds LLC now owns 62,000 shares of the company’s stock valued at $655,000 after acquiring an additional 3,000 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Townsquare Media by 17.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 38,891 shares of the company’s stock valued at $411,000 after purchasing an additional 5,852 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in Townsquare Media by 49.9% during the fourth quarter. Ritholtz Wealth Management now owns 24,131 shares of the company’s stock worth $255,000 after purchasing an additional 8,035 shares during the period. 71.69% of the stock is owned by institutional investors.

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.