Algert Global LLC Decreases Position in Townsquare Media Inc (TSQ)
Algert Global LLC cut its holdings in shares of Townsquare Media Inc (NYSE:TSQ) by 16.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 183,015 shares of the company’s stock after selling 34,766 shares during the period. Algert Global LLC’s holdings in Townsquare Media were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Virtu Financial LLC acquired a new position in Townsquare Media during the third quarter valued at $101,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Townsquare Media during the third quarter valued at $125,000. Alambic Investment Management L.P. acquired a new position in Townsquare Media during the third quarter valued at $128,000. Wells Fargo & Company MN lifted its position in Townsquare Media by 138.2% during the third quarter. Wells Fargo & Company MN now owns 21,201 shares of the company’s stock valued at $166,000 after purchasing an additional 12,301 shares during the period. Finally, LMR Partners LLP acquired a new position in Townsquare Media during the second quarter valued at $170,000. Institutional investors own 43.78% of the company’s stock.
A number of brokerages have weighed in on TSQ. ValuEngine upgraded shares of Townsquare Media from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Zacks Investment Research downgraded shares of Townsquare Media from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Noble Financial reiterated a “buy” rating on shares of Townsquare Media in a research report on Wednesday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.75.
Townsquare Media (NYSE:TSQ) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $114.07 million during the quarter, compared to analyst estimates of $112.59 million. Townsquare Media had a positive return on equity of 6.11% and a negative net margin of 9.68%. On average, sell-side analysts predict that Townsquare Media Inc will post 0.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, December 27th will be given a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, December 26th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 5.09%. Townsquare Media’s dividend payout ratio (DPR) is currently 40.54%.
In other news, Director Stephen A. Kaplan acquired 10,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was acquired at an average price of $6.40 per share, for a total transaction of $64,000.00. Following the completion of the transaction, the director now owns 22,135 shares in the company, valued at approximately $141,664. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 26.70% of the company’s stock.
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Townsquare Media Company Profile
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. It operates through two segments, Local Marketing Solutions and Entertainment. The Local Marketing Solutions segment provides broadcast and digital solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications.
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