Townsquare Media, Inc. (NYSE:TSQ – Get Rating) announced a quarterly dividend on Friday, March 10th, Wall Street Journal reports. Shareholders of record on Monday, March 27th will be given a dividend of 0.1875 per share on Monday, May 1st. This represents a $0.75 annualized dividend and a yield of 8.91%. The ex-dividend date is Friday, March 24th. This is an increase from Townsquare Media’s previous quarterly dividend of $0.08.
Townsquare Media Stock Performance
Townsquare Media stock traded up $0.02 during trading hours on Friday, hitting $8.42. 39,863 shares of the stock traded hands, compared to its average volume of 24,931. Townsquare Media has a 1 year low of $7.05 and a 1 year high of $13.16. The company has a debt-to-equity ratio of 8.31, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $145.16 million, a price-to-earnings ratio of 15.42, a P/E/G ratio of 0.28 and a beta of 1.54. The firm’s 50 day moving average price is $7.36 and its 200-day moving average price is $7.62.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. StockNews.com downgraded Townsquare Media from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet cut Townsquare Media from a “c” rating to a “d” rating in a report on Friday, November 18th. Finally, Guggenheim reduced their price target on Townsquare Media to $14.00 in a report on Tuesday, November 15th.
Hedge Funds Weigh In On Townsquare Media
A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Townsquare Media by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 536,140 shares of the company’s stock valued at $3,892,000 after acquiring an additional 6,590 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Townsquare Media by 4.0% in the first quarter. Gamco Investors INC. ET AL now owns 294,200 shares of the company’s stock valued at $3,763,000 after purchasing an additional 11,400 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Townsquare Media by 14.6% in the first quarter. BlackRock Inc. now owns 221,426 shares of the company’s stock valued at $2,832,000 after purchasing an additional 28,217 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Townsquare Media by 40.8% in the second quarter. Millennium Management LLC now owns 114,638 shares of the company’s stock valued at $939,000 after purchasing an additional 33,197 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Townsquare Media by 29.5% in the first quarter. Sei Investments Co. now owns 108,545 shares of the company’s stock valued at $1,388,000 after purchasing an additional 24,744 shares during the last quarter. Institutional investors and hedge funds own 48.13% of the company’s stock.
Townsquare Media Company Profile
Townsquare Media, Inc is a community-focused digital media, digital marketing solutions and radio company. It owns and operates radio stations, digital and social properties and live events in small and mid-sized markets across the United States. The firm creates and distributes original entertainment, music and lifestyle content.