Bank of New York Mellon Corp Sells 19,337 Shares of Townsquare Media, Inc. (NYSE:TSQ)

Bank of New York Mellon Corp cut its stake in shares of Townsquare Media, Inc. (NYSE:TSQ) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,710 shares of the company’s stock after selling 19,337 shares during the period. Bank of New York Mellon Corp’s holdings in Townsquare Media were worth $1,197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Access Investment Management LLC grew its holdings in shares of Townsquare Media by 0.5% in the fourth quarter. Access Investment Management LLC now owns 398,450 shares of the company’s stock worth $3,622,000 after acquiring an additional 1,985 shares during the period. Empowered Funds LLC boosted its position in Townsquare Media by 5.2% in the fourth quarter. Empowered Funds LLC now owns 56,634 shares of the company’s stock worth $515,000 after purchasing an additional 2,804 shares during the last quarter. Krilogy Financial LLC grew its stake in shares of Townsquare Media by 33.3% during the 4th quarter. Krilogy Financial LLC now owns 40,000 shares of the company’s stock valued at $364,000 after purchasing an additional 10,000 shares during the period. Barclays PLC increased its position in shares of Townsquare Media by 59.8% during the 3rd quarter. Barclays PLC now owns 37,685 shares of the company’s stock valued at $383,000 after purchasing an additional 14,109 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Townsquare Media by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 278,985 shares of the company’s stock worth $2,835,000 after purchasing an additional 1,151 shares during the period. 71.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSQ. Barrington Research restated an “outperform” rating and set a $15.00 target price on shares of Townsquare Media in a research report on Tuesday, March 18th. StockNews.com cut shares of Townsquare Media from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Noble Financial restated an “outperform” rating and issued a $21.00 price objective on shares of Townsquare Media in a research note on Friday, January 24th.

Townsquare Media Trading Up 1.1 %

Shares of NYSE:TSQ opened at $8.07 on Tuesday. The stock has a 50 day moving average of $8.65 and a 200 day moving average of $9.49. The company has a market cap of $130.00 million, a PE ratio of -2.98, a price-to-earnings-growth ratio of 0.58 and a beta of 1.33. Townsquare Media, Inc. has a 12-month low of $7.56 and a 12-month high of $13.57.

Townsquare Media (NYSE:TSQ) last posted its quarterly earnings results on Monday, March 17th. The company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. The business had revenue of $117.81 million during the quarter, compared to analyst estimates of $116.41 million. Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. During the same period in the prior year, the business posted $0.34 earnings per share. Equities research analysts predict that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 9.92%. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from Townsquare Media’s previous quarterly dividend of $0.20. Townsquare Media’s dividend payout ratio is presently -69.57%.

Insider Buying and Selling at Townsquare Media

In other news, EVP Scott Schatz sold 4,594 shares of Townsquare Media stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $9.65, for a total transaction of $44,332.10. Following the sale, the executive vice president now owns 31,366 shares in the company, valued at $302,681.90. This trade represents a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Claire Marie Yenicay sold 5,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $9.22, for a total transaction of $46,100.00. Following the transaction, the executive vice president now owns 214,953 shares of the company’s stock, valued at approximately $1,981,866.66. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 30.50% of the company’s stock.

Townsquare Media Company Profile

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.