Townsquare Media (TSQ) PT Set at $11.00 by Noble Financial
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Townsquare Media from a hold rating to a sell rating in a research report on Wednesday, May 30th. ValuEngine downgraded Townsquare Media from a sell rating to a strong sell rating in a research report on Thursday, May 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Townsquare Media has an average rating of Hold and an average price target of $10.60.
Shares of TSQ traded down $0.05 on Thursday, reaching $7.85. 42,527 shares of the company’s stock traded hands, compared to its average volume of 46,548. The company has a current ratio of 2.17, a quick ratio of 1.95 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $146.11 million, a price-to-earnings ratio of 8.68, a PEG ratio of -3.63 and a beta of 1.14. Townsquare Media has a 52-week low of $6.03 and a 52-week high of $11.01.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, September 27th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Wednesday, September 26th. Townsquare Media’s dividend payout ratio is currently 40.54%.
In other news, CEO Dhruv Prasad bought 5,000 shares of the firm’s stock in a transaction on Monday, June 4th. The stock was acquired at an average cost of $6.19 per share, with a total value of $30,950.00. Following the completion of the transaction, the chief executive officer now directly owns 5,000 shares of the company’s stock, valued at approximately $30,950. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired 8,500 shares of company stock valued at $53,360 over the last three months. Company insiders own 26.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of TSQ. Acadian Asset Management LLC bought a new position in shares of Townsquare Media in the second quarter worth $966,000. Dimensional Fund Advisors LP boosted its holdings in shares of Townsquare Media by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 488,076 shares of the company’s stock worth $3,158,000 after acquiring an additional 101,534 shares during the period. Deutsche Bank AG boosted its holdings in shares of Townsquare Media by 259.4% in the fourth quarter. Deutsche Bank AG now owns 110,749 shares of the company’s stock worth $848,000 after acquiring an additional 79,937 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Townsquare Media by 16.7% in the fourth quarter. Renaissance Technologies LLC now owns 428,700 shares of the company’s stock worth $3,292,000 after acquiring an additional 61,401 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in shares of Townsquare Media by 286.9% in the fourth quarter. Two Sigma Investments LP now owns 50,637 shares of the company’s stock worth $389,000 after acquiring an additional 37,550 shares during the period. 47.89% of the stock is owned by hedge funds and other institutional investors.
About Townsquare Media
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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