Exchange Traded Concepts LLC trimmed its position in Townsquare Media, Inc. (NYSE:TSQ – Free Report) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,869 shares of the company’s stock after selling 1,273 shares during the period. Exchange Traded Concepts LLC owned about 0.30% of Townsquare Media worth $466,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Townsquare Media by 2.0% during the first quarter. Vanguard Group Inc. now owns 603,568 shares of the company’s stock valued at $6,627,000 after buying an additional 12,073 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Townsquare Media by 3.9% during the 2nd quarter. Renaissance Technologies LLC now owns 482,352 shares of the company’s stock worth $5,287,000 after purchasing an additional 17,900 shares during the period. Access Investment Management LLC boosted its holdings in shares of Townsquare Media by 0.5% during the second quarter. Access Investment Management LLC now owns 396,025 shares of the company’s stock worth $4,340,000 after purchasing an additional 2,140 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Townsquare Media by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 160,469 shares of the company’s stock valued at $1,759,000 after purchasing an additional 6,768 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in Townsquare Media by 12.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 75,065 shares of the company’s stock valued at $824,000 after purchasing an additional 8,079 shares during the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Townsquare Media
In other news, COO Erik Hellum sold 9,223 shares of Townsquare Media stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $10.30, for a total transaction of $94,996.90. Following the sale, the chief operating officer now owns 607,680 shares in the company, valued at $6,259,104. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Townsquare Media news, Director Stephen A. Kaplan acquired 50,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $10.41 per share, for a total transaction of $520,500.00. Following the acquisition, the director now directly owns 137,808 shares of the company’s stock, valued at $1,434,581.28. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Erik Hellum sold 9,223 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $10.30, for a total value of $94,996.90. Following the transaction, the chief operating officer now owns 607,680 shares of the company’s stock, valued at approximately $6,259,104. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,585 shares of company stock worth $289,812. Corporate insiders own 34.90% of the company’s stock.
Townsquare Media Stock Performance
Townsquare Media (NYSE:TSQ – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.28). Townsquare Media had a negative net margin of 19.53% and a negative return on equity of 171.57%. The business had revenue of $118.23 million during the quarter, compared to analysts’ expectations of $117.99 million. As a group, research analysts forecast that Townsquare Media, Inc. will post 0.97 earnings per share for the current year.
Townsquare Media Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.1975 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.79 dividend on an annualized basis and a yield of 7.65%. Townsquare Media’s dividend payout ratio (DPR) is -14.08%.
Wall Street Analysts Forecast Growth
TSQ has been the subject of several recent analyst reports. StockNews.com cut Townsquare Media from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Barrington Research restated an “outperform” rating and issued a $17.00 target price on shares of Townsquare Media in a report on Monday, August 12th.
View Our Latest Report on Townsquare Media
About Townsquare Media
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.
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