Ritholtz Wealth Management Acquires 8,035 Shares of Townsquare Media, Inc. (NYSE:TSQ)

Ritholtz Wealth Management boosted its holdings in Townsquare Media, Inc. (NYSE:TSQFree Report) by 49.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,131 shares of the company’s stock after acquiring an additional 8,035 shares during the period. Ritholtz Wealth Management owned 0.15% of Townsquare Media worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TSQ. Bank of New York Mellon Corp raised its position in shares of Townsquare Media by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 64,071 shares of the company’s stock valued at $820,000 after purchasing an additional 2,224 shares during the period. Group One Trading L.P. acquired a new stake in Townsquare Media in the first quarter valued at approximately $40,000. BlackRock Inc. increased its holdings in Townsquare Media by 14.6% in the 1st quarter. BlackRock Inc. now owns 221,426 shares of the company’s stock worth $2,832,000 after purchasing an additional 28,217 shares in the last quarter. Sei Investments Co. increased its stake 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 buying an additional 24,744 shares during the period. Finally, Gamco Investors INC. ET AL raised its stake in shares of Townsquare Media by 4.0% during the first quarter. Gamco Investors INC. ET AL now owns 294,200 shares of the company’s stock valued at $3,763,000 after acquiring an additional 11,400 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barrington Research restated an “outperform” rating and issued a $17.00 price target on shares of Townsquare Media in a research report on Tuesday. Guggenheim increased their target price on Townsquare Media from $12.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, March 20th. StockNews.com raised shares of Townsquare Media from a “hold” rating to a “buy” rating in a report on Friday, March 29th. Finally, Noble Financial upped their target price on Townsquare Media from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday.

Get Our Latest Research Report on Townsquare Media

Townsquare Media Stock Up 3.0 %

TSQ opened at $12.03 on Wednesday. Townsquare Media, Inc. has a twelve month low of $7.94 and a twelve month high of $12.65. The company’s 50-day moving average price is $10.83 and its two-hundred day moving average price is $10.04. The stock has a market cap of $200.06 million, a price-to-earnings ratio of -4.39, a PEG ratio of 0.65 and a beta of 1.37. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 50.41.

Townsquare Media Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.198 per share. This represents a $0.79 annualized dividend and a yield of 6.58%. This is a positive change from Townsquare Media’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, April 4th. Townsquare Media’s dividend payout ratio is -27.37%.

Insider Buying and Selling

In related news, COO Erik Hellum sold 3,380 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $11.03, for a total transaction of $37,281.40. Following the sale, the chief operating officer now directly owns 736,736 shares in the company, valued at approximately $8,126,198.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 13,832 shares of company stock valued at $151,935. 29.10% of the stock is owned by insiders.

Townsquare Media Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Townsquare Media (NYSE:TSQ)

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