Two Sigma Investments LP lessened its position in shares of Townsquare Media Inc (NYSE:TSQ) by 15.9% in the fourth quarter, Holdings Channel reports. The fund owned 50,465 shares of the company’s stock after selling 9,526 shares during the quarter. Two Sigma Investments LP’s holdings in Townsquare Media were worth $206,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC purchased a new stake in Townsquare Media in the fourth quarter worth about $54,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Townsquare Media by 25.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,098 shares of the company’s stock worth $82,000 after buying an additional 4,100 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Townsquare Media in the fourth quarter worth about $86,000. Virtu Financial LLC purchased a new stake in Townsquare Media in the third quarter worth about $101,000. Finally, Northern Trust Corp increased its position in Townsquare Media by 79.8% in the fourth quarter. Northern Trust Corp now owns 38,589 shares of the company’s stock worth $157,000 after buying an additional 17,132 shares in the last quarter. Institutional investors own 41.63% of the company’s stock.
Shares of TSQ opened at $5.90 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.03 and a quick ratio of 2.03. Townsquare Media Inc has a 52 week low of $3.95 and a 52 week high of $9.79. The stock has a market capitalization of $107.60 million, a price-to-earnings ratio of 6.45, a P/E/G ratio of 0.45 and a beta of 2.11.
Townsquare Media (NYSE:TSQ) last released its earnings results on Tuesday, March 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.01. Townsquare Media had a positive return on equity of 7.17% and a negative net margin of 7.32%. The firm had revenue of $108.96 million during the quarter, compared to analysts’ expectations of $104.88 million. As a group, research analysts anticipate that Townsquare Media Inc will post 1.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 2nd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Monday, April 1st. Townsquare Media’s dividend payout ratio is currently 29.13%.
In related news, Director David Lebow sold 6,700 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $5.34, for a total transaction of $35,778.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 26.70% of the company’s stock.
A number of analysts have commented on the company. ValuEngine upgraded Townsquare Media from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Noble Financial restated a “buy” rating and issued a $10.00 price target on shares of Townsquare Media in a research report on Thursday, January 31st. Finally, Royal Bank of Canada set a $8.00 price target on Townsquare Media and gave the stock a “buy” rating in a research report on Tuesday, March 26th.
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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