Access Investment Management LLC Invests $3.16 Million in Townsquare Media, Inc. $TSQ

Access Investment Management LLC purchased a new position in shares of Townsquare Media, Inc. (NYSE:TSQ) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 399,490 shares of the company’s stock, valued at approximately $3,160,000. Access Investment Management LLC owned approximately 2.44% of Townsquare Media at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TSQ. Goldman Sachs Group Inc. boosted its holdings in Townsquare Media by 52.7% in the first quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock valued at $2,212,000 after acquiring an additional 93,753 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Townsquare Media during the 2nd quarter worth $295,000. Corton Capital Inc. acquired a new position in shares of Townsquare Media in the second quarter worth about $227,000. Trexquant Investment LP grew its position in shares of Townsquare Media by 96.4% during the first quarter. Trexquant Investment LP now owns 55,679 shares of the company’s stock worth $453,000 after buying an additional 27,326 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Townsquare Media by 3.8% in the 1st quarter. American Century Companies Inc. now owns 726,114 shares of the company’s stock valued at $5,911,000 after purchasing an additional 26,327 shares in the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Townsquare Media

In other Townsquare Media news, Director Stephen A. Kaplan bought 10,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $6.92 per share, for a total transaction of $69,200.00. Following the completion of the purchase, the director owned 208,618 shares in the company, valued at $1,443,636.56. This represents a 5.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 30.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TSQ shares. Barrington Research reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Townsquare Media in a report on Thursday, August 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Townsquare Media in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Townsquare Media currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Townsquare Media Stock Up 0.8%

TSQ stock opened at $6.29 on Monday. The company has a 50 day moving average of $6.71 and a two-hundred day moving average of $7.02. The company has a market cap of $103.44 million, a price-to-earnings ratio of 3.11, a PEG ratio of 1.88 and a beta of 1.17. Townsquare Media, Inc. has a 12-month low of $6.07 and a 12-month high of $10.60.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Townsquare Media had a negative return on equity of 56.87% and a net margin of 7.93%.The company had revenue of $115.45 million during the quarter, compared to the consensus estimate of $114.77 million. On average, research analysts anticipate that Townsquare Media, Inc. will post 1.07 EPS for the current year.

Townsquare Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Monday, October 27th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, October 27th. This represents a $0.80 dividend on an annualized basis and a yield of 12.7%. Townsquare Media’s payout ratio is currently 39.60%.

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.