Connor Clark & Lunn Investment Management Ltd. raised its holdings in Townsquare Media Inc (NYSE:TSQ) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,898 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Townsquare Media worth $155,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. NJ State Employees Deferred Compensation Plan grew its holdings in shares of Townsquare Media by 70.0% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 17,000 shares of the company’s stock worth $91,000 after purchasing an additional 7,000 shares during the last quarter. Northern Trust Corp boosted its holdings in Townsquare Media by 79.8% in the fourth quarter. Northern Trust Corp now owns 38,589 shares of the company’s stock valued at $157,000 after acquiring an additional 17,132 shares during the last quarter. Eidelman Virant Capital bought a new stake in Townsquare Media in the second quarter valued at approximately $387,000. Spark Investment Management LLC boosted its holdings in Townsquare Media by 4.9% in the first quarter. Spark Investment Management LLC now owns 80,800 shares of the company’s stock valued at $462,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Townsquare Media by 212.5% in the fourth quarter. Deutsche Bank AG now owns 120,379 shares of the company’s stock valued at $490,000 after acquiring an additional 81,857 shares during the last quarter. Hedge funds and other institutional investors own 41.34% of the company’s stock.
Shares of NYSE:TSQ traded up $0.09 during trading on Friday, reaching $6.70. 1,800 shares of the stock were exchanged, compared to its average volume of 17,207. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.52 and a quick ratio of 2.52. Townsquare Media Inc has a 1-year low of $3.95 and a 1-year high of $9.20. The stock has a fifty day moving average of $5.92 and a two-hundred day moving average of $5.67. The firm has a market cap of $125.79 million, a price-to-earnings ratio of 6.51, a price-to-earnings-growth ratio of 0.56 and a beta of 1.78.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Wednesday, September 25th. Townsquare Media’s payout ratio is 29.13%.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Townsquare Media from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Noble Financial set a $12.00 price target on Townsquare Media and gave the company a “buy” rating in a research note on Wednesday, August 7th.
About Townsquare Media
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. The company provides advertising and marketing solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications.
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