FY2024 EPS Estimates for TSQ Increased by Analyst

Townsquare Media, Inc. (NYSE:TSQ) – Analysts at Barrington Research upped their FY2024 EPS estimates for shares of Townsquare Media in a report released on Monday, November 11th. Barrington Research analyst J. Goss now expects that the company will earn $1.07 per share for the year, up from their previous estimate of $0.97. Barrington Research currently has a “Outperform” rating and a $17.00 target price on the stock. The consensus estimate for Townsquare Media’s current full-year earnings is $0.97 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 report on Monday.

Townsquare Media Stock Down 1.2 %

Shares of TSQ stock opened at $9.85 on Wednesday. The company has a debt-to-equity ratio of 271.80, a quick ratio of 1.36 and a current ratio of 1.38. The stock’s 50 day simple moving average is $10.07 and its two-hundred day simple moving average is $10.74. Townsquare Media has a 1 year low of $8.90 and a 1 year high of $13.57.

Institutional Investors Weigh In On Townsquare Media

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position 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 last quarter. Renaissance Technologies LLC grew its holdings in Townsquare Media by 3.9% in the second 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 last quarter. Access Investment Management LLC increased its position 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 in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Townsquare Media by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 160,469 shares of the company’s stock worth $1,759,000 after purchasing an additional 6,768 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Townsquare Media by 12.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 75,065 shares of the company’s stock worth $824,000 after buying an additional 8,079 shares during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Townsquare Media

In other Townsquare Media news, COO Erik Hellum sold 9,223 shares of the business’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 completion of the sale, the chief operating officer now directly owns 607,680 shares of the company’s stock, valued at $6,259,104. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Erik Hellum sold 9,223 shares of the company’s 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 completion of the sale, the chief operating officer now owns 607,680 shares of the company’s stock, valued at approximately $6,259,104. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Msd Capital L. P sold 6,257 shares of Townsquare Media stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $10.01, for a total transaction of $62,632.57. Following the transaction, the insider now directly owns 1,506,641 shares in the company, valued at approximately $15,081,476.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,153 shares of company stock valued at $386,614 in the last quarter. 34.90% of the stock is owned by insiders.

Townsquare Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Tuesday, January 21st will be issued a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date is Tuesday, January 21st. Townsquare Media’s payout ratio is currently -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.