StockNews.com Downgrades Townsquare Media (NYSE:TSQ) to Hold

StockNews.com downgraded shares of Townsquare Media (NYSE:TSQ - Free Report) from a strong-buy rating to a hold rating in a research note released on Friday morning.

TSQ has been the topic of several other reports. Noble Financial restated a "buy" rating and issued a $21.00 price objective on shares of Townsquare Media in a research report on Friday, May 9th. Barrington Research decreased their price objective on shares of Townsquare Media from $15.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th.

Townsquare Media Price Performance

Shares of TSQ traded down $0.22 during midday trading on Friday, hitting $6.69. 57,893 shares of the company traded hands, compared to its average volume of 58,395. The stock has a 50-day moving average of $7.27 and a 200-day moving average of $8.61. Townsquare Media has a one year low of $6.47 and a one year high of $12.32. The firm has a market cap of $107.79 million, a P/E ratio of -2.47, a PEG ratio of 0.58 and a beta of 1.08.

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

Townsquare Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 11.96%. The ex-dividend date of this dividend is Friday, July 18th. Townsquare Media's payout ratio is -60.15%.

Hedge Funds Weigh In On Townsquare Media

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSQ. Fuller & Thaler Asset Management Inc. raised its position in shares of Townsquare Media by 3.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 46,895 shares of the company's stock worth $382,000 after purchasing an additional 1,500 shares during the last quarter. Sei Investments Co. raised its position in shares of Townsquare Media by 2.1% in the 4th quarter. Sei Investments Co. now owns 72,426 shares of the company's stock worth $658,000 after purchasing an additional 1,513 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Townsquare Media by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 280,897 shares of the company's stock worth $2,554,000 after purchasing an additional 1,912 shares during the last quarter. Access Investment Management LLC raised its position in shares of Townsquare Media by 0.5% in the 4th quarter. Access Investment Management LLC now owns 398,450 shares of the company's stock worth $3,622,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Townsquare Media by 56.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,296 shares of the company's stock worth $57,000 after purchasing an additional 2,259 shares during the last quarter. Hedge funds and other institutional investors own 71.69% of the company's stock.

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.