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

Bank of New York Mellon Corp decreased its holdings in Townsquare Media, Inc. (NYSE:TSQ) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,710 shares of the company’s stock after selling 19,337 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of Townsquare Media worth $1,197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in TSQ. Barclays PLC lifted its position in shares of Townsquare Media by 59.8% in the 3rd quarter. Barclays PLC now owns 37,685 shares of the company’s stock worth $383,000 after purchasing an additional 14,109 shares during the period. Krilogy Financial LLC raised its stake in Townsquare Media by 33.3% in the fourth quarter. Krilogy Financial LLC now owns 40,000 shares of the company’s stock worth $364,000 after buying an additional 10,000 shares in the last quarter. State Street Corp lifted its holdings in Townsquare Media by 4.0% in the third quarter. State Street Corp now owns 177,163 shares of the company’s stock worth $1,800,000 after buying an additional 6,800 shares during the period. Empowered Funds LLC boosted its position in Townsquare Media by 5.2% during the 4th quarter. Empowered Funds LLC now owns 56,634 shares of the company’s stock valued at $515,000 after acquiring an additional 2,804 shares in the last quarter. Finally, Access Investment Management LLC grew its holdings in shares of Townsquare Media by 0.5% during the 4th 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. Institutional investors own 71.69% of the company’s stock.

Townsquare Media Stock Up 1.1 %

Shares of TSQ opened at $8.07 on Tuesday. The stock has a market cap of $130.00 million, a P/E ratio of -2.98, a P/E/G ratio of 0.58 and a beta of 1.33. The business’s 50 day moving average price is $8.65 and its 200-day moving average price is $9.49. Townsquare Media, Inc. has a 52 week low of $7.56 and a 52 week high of $13.57.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. Townsquare Media had a negative return on equity of 57.10% and a negative net margin of 8.84%. The business had revenue of $117.81 million during the quarter, compared to analysts’ expectations of $116.41 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, equities analysts anticipate that Townsquare Media, Inc. will post 1.07 EPS for the current year.

Townsquare Media Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 9.92%. This is an increase from Townsquare Media’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, April 17th. Townsquare Media’s dividend payout ratio is -69.57%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Townsquare Media

In related news, EVP Scott Schatz sold 4,594 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $9.65, for a total transaction of $44,332.10. Following the sale, the executive vice president now directly owns 31,366 shares of the company’s stock, 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 Townsquare Media stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $9.22, for a total value of $46,100.00. Following the completion of the sale, the executive vice president now owns 214,953 shares of the company’s stock, valued at $1,981,866.66. The trade was a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 30.50% of the stock is owned by company insiders.

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.