Townsquare Media, Inc. (NYSE:TSQ – Get Free Report) announced a quarterly dividend on Monday, March 17th, Wall Street Journal reports. Stockholders of record on Thursday, April 17th will be paid a dividend of 0.20 per share on Thursday, May 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.97%. The ex-dividend date is Thursday, April 17th. This is a 1.3% increase from Townsquare Media’s previous quarterly dividend of $0.20.
Townsquare Media has a dividend payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Townsquare Media to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.79 annual dividend with an expected future payout ratio of 61.2%.
Townsquare Media Stock Performance
Shares of Townsquare Media stock opened at $8.03 on Wednesday. Townsquare Media has a one year low of $7.56 and a one year high of $13.57. The company has a market cap of $124.76 million, a price-to-earnings ratio of -2.96, a PEG ratio of 0.58 and a beta of 1.33. The business’s 50 day moving average price is $8.75 and its 200 day moving average price is $9.55.
Insiders Place Their Bets
In related news, EVP Scott Schatz sold 4,594 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $9.65, for a total value of $44,332.10. Following the sale, the executive vice president now directly owns 31,366 shares of the company’s stock, valued at approximately $302,681.90. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Claire Marie Yenicay sold 5,000 shares of Townsquare Media stock in a transaction on Friday, December 20th. The shares were sold at an average price of $9.65, for a total transaction of $48,250.00. Following the completion of the sale, the executive vice president now owns 207,393 shares in the company, valued at $2,001,342.45. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,594 shares of company stock valued at $186,882 in the last quarter. Insiders own 30.50% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on the company. Barrington Research reissued an “outperform” rating and issued a $15.00 price objective on shares of Townsquare Media in a research report on Tuesday. Noble Financial reiterated an “outperform” rating and issued a $21.00 price target on shares of Townsquare Media in a research note on Friday, January 24th.
Get 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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