Millennium Management LLC Increases Stock Holdings in Townsquare Media, Inc. (NYSE:TSQ)

Millennium Management LLC grew its position in Townsquare Media, Inc. (NYSE:TSQ - Free Report) by 129.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,557 shares of the company's stock after acquiring an additional 52,299 shares during the quarter. Millennium Management LLC owned about 0.60% of Townsquare Media worth $841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Townsquare Media by 56.0% during the fourth quarter. Wells Fargo & Company MN now owns 6,296 shares of the company's stock worth $57,000 after buying an additional 2,259 shares during the period. Wealthfront Advisers LLC purchased a new stake in Townsquare Media during the 4th quarter valued at approximately $69,000. Russell Investments Group Ltd. lifted its position in Townsquare Media by 1,086.0% during the 4th quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company's stock worth $76,000 after acquiring an additional 7,700 shares during the period. Hillsdale Investment Management Inc. grew its stake in shares of Townsquare Media by 47.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 27,200 shares of the company's stock valued at $247,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Trexquant Investment LP increased its holdings in shares of Townsquare Media by 122.8% in the fourth quarter. Trexquant Investment LP now owns 28,353 shares of the company's stock valued at $258,000 after purchasing an additional 15,628 shares during the period. 71.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Townsquare Media

In other Townsquare Media news, COO Erik Hellum sold 4,591 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $7.08, for a total transaction of $32,504.28. Following the sale, the chief operating officer now owns 733,948 shares in the company, valued at approximately $5,196,351.84. This represents a 0.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 27,968 shares of company stock valued at $199,646 in the last ninety days. Corporate insiders own 30.50% of the company's stock.

Analyst Ratings Changes

TSQ has been the subject of several recent research reports. Barrington Research decreased their price target on Townsquare Media from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Noble Financial restated a "buy" rating and set a $21.00 price objective on shares of Townsquare Media in a research report on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Townsquare Media from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th.

Townsquare Media Price Performance

Shares of TSQ stock traded down $0.05 during trading hours on Tuesday, reaching $7.23. 152,900 shares of the company's stock were exchanged, compared to its average volume of 62,132. The company's 50 day moving average is $6.95 and its two-hundred day moving average is $8.31. The company has a market cap of $118.26 million, a P/E ratio of -2.67, a price-to-earnings-growth ratio of 0.58 and a beta of 1.11. Townsquare Media, Inc. has a 1 year low of $6.47 and a 1 year high of $12.32.

Townsquare Media (NYSE:TSQ - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $98.68 million during the quarter, compared to analysts' expectations of $98.50 million. Townsquare Media had a negative return on equity of 57.10% and a negative net margin of 8.84%. As a group, analysts predict that Townsquare Media, Inc. will post 1.07 EPS for the current fiscal year.

Townsquare Media Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 11.06%. Townsquare Media's payout ratio is currently -60.15%.

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.