Barrington Research Issues Positive Outlook for TSQ Earnings

Townsquare Media, Inc. (NYSE:TSQ - Free Report) - Research analysts at Barrington Research lifted their FY2024 EPS estimates for shares of Townsquare Media in a report issued on Monday, November 11th. Barrington Research analyst J. Goss now forecasts that the company will earn $1.07 per share for the year, up from their prior estimate of $0.97. Barrington Research has a "Outperform" rating and a $17.00 price target on the stock. The consensus estimate for Townsquare Media's current full-year earnings is $1.07 per share. Barrington Research also issued estimates for Townsquare Media's Q4 2024 earnings at $0.58 EPS and Q4 2025 earnings at $0.20 EPS.

Separately, StockNews.com upgraded Townsquare Media from a "hold" rating to a "buy" rating in a research note on Monday.

Townsquare Media Price Performance

NYSE:TSQ traded down $0.02 during trading hours on Wednesday, hitting $9.83. The stock had a trading volume of 34,758 shares, compared to its average volume of 51,426. The business has a 50 day simple moving average of $10.07 and a two-hundred day simple moving average of $10.74. Townsquare Media has a 1-year low of $9.05 and a 1-year high of $13.57. The company has a quick ratio of 1.36, a current ratio of 1.38 and a debt-to-equity ratio of 271.80.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds and other institutional investors have recently modified their holdings of TSQ. BNP Paribas Financial Markets grew its stake in shares of Townsquare Media by 28.9% in the third quarter. BNP Paribas Financial Markets now owns 6,698 shares of the company's stock worth $68,000 after purchasing an additional 1,503 shares in the last quarter. Access Investment Management LLC increased its stake in Townsquare Media by 0.5% during the 2nd quarter. Access Investment Management LLC now owns 396,025 shares of the company's stock valued at $4,340,000 after buying an additional 2,140 shares during the period. Rhumbline Advisers lifted its stake in shares of Townsquare Media by 24.4% in the 2nd quarter. Rhumbline Advisers now owns 12,660 shares of the company's stock worth $139,000 after acquiring an additional 2,481 shares during the period. Boyar Asset Management Inc. increased its stake in shares of Townsquare Media by 8.7% during the second quarter. Boyar Asset Management Inc. now owns 39,172 shares of the company's stock valued at $429,000 after acquiring an additional 3,150 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Townsquare Media by 8.9% during the first quarter. Janney Montgomery Scott LLC now owns 42,360 shares of the company's stock worth $465,000 after purchasing an additional 3,469 shares in the last quarter. Institutional investors and hedge funds own 71.69% of the company's stock.

Insider Activity

In other news, COO Erik Hellum sold 9,223 shares of the firm's stock in a transaction dated 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 directly owns 607,680 shares in the company, valued at approximately $6,259,104. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Stephen A. Kaplan acquired 50,000 shares of Townsquare Media stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average price of $10.41 per share, for a total transaction of $520,500.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Erik Hellum sold 9,223 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $10.30, for a total value of $94,996.90. Following the completion of the sale, the chief operating officer now directly owns 607,680 shares in the company, valued at $6,259,104. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,153 shares of company stock worth $386,614. 30.50% of the stock is currently owned by insiders.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Tuesday, January 21st will be given a $0.1975 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $0.79 annualized dividend and a dividend yield of 8.04%. Townsquare Media's payout ratio is -29.15%.

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.