Townsquare Media, Inc. (TSQ) To Go Ex-Dividend on October 26th

Townsquare Media, Inc. (NYSE:TSQ) declared a quarterly dividend on Tuesday, August 4th. Investors of record on Monday, October 26th will be given a dividend of $0.20 per share on Monday, November 2nd. This represents a $0.80 annualized dividend and a yield of 20.9%. The ex-dividend date of this dividend is Monday, October 26th.

Townsquare Media has increased its dividend payment by an average of 0.6% annually over the last three years and has increased its dividend every year for the last 3 years. Townsquare Media has a dividend payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Townsquare Media to earn $0.41 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 195.1%.

Townsquare Media Stock Up 0.3%

Shares of Townsquare Media stock traded up $0.01 during trading hours on Friday, hitting $3.83. The company’s stock had a trading volume of 267,504 shares, compared to its average volume of 107,972. Townsquare Media has a 1-year low of $3.61 and a 1-year high of $7.97. The business has a fifty day moving average of $4.97 and a 200 day moving average of $5.95. The company has a market capitalization of $69.85 million, a PE ratio of -1.33 and a beta of 1.27.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Thursday, August 6th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Townsquare Media had a negative net margin of 11.82% and a negative return on equity of 5.59%. The business had revenue of $114.00 million for the quarter, compared to the consensus estimate of $114.74 million. On average, sell-side analysts anticipate that Townsquare Media will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Bill Wilson sold 21,420 shares of Townsquare Media stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $5.54, for a total transaction of $118,666.80. Following the sale, the chief executive officer owned 2,979,061 shares of the company’s stock, valued at $16,503,997.94. The trade was a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 30.30% of the company’s stock.

Hedge Funds Weigh In On Townsquare Media

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSQ. Gamco Investors INC. ET AL lifted its stake in shares of Townsquare Media by 3.3% in the first quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock worth $2,088,000 after acquiring an additional 12,300 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Townsquare Media by 3.8% in the first quarter. Gabelli Funds LLC now owns 63,300 shares of the company’s stock valued at $344,000 after purchasing an additional 2,300 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Townsquare Media by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock valued at $249,000 after purchasing an additional 2,319 shares during the last quarter. Ancora Advisors LLC purchased a new position in Townsquare Media in the second quarter valued at about $233,000. Finally, Ritholtz Wealth Management acquired a new stake in Townsquare Media during the 1st quarter valued at approximately $158,000. 71.69% of the stock is owned by hedge funds and other institutional investors.

Townsquare Media Company Profile

Townsquare Media, Inc (NYSE: TSQ) is a local media and digital marketing company serving small and mid-sized communities across the United States. The company operates local radio stations and produces community-focused content through websites, mobile applications, email newsletters, podcasts and other digital channels.

Townsquare generates advertising and subscription-related revenue by offering businesses access to local audiences across broadcast, online and mobile platforms. Its services include on-air advertising, digital display and video advertising, search engine marketing, social media marketing, website development and other digital marketing solutions.

The company also develops and promotes local events and provides additional marketing services through its Townsquare Interactive business.