Federated Hermes Inc. Sells 3,403 Shares of Townsquare Media, Inc. (NYSE:TSQ)

Federated Hermes Inc. lessened its position in Townsquare Media, Inc. (NYSE:TSQ – Get Rating) by 2.3% in the third quarter, HoldingsChannel.com reports. The fund owned 147,715 shares of the company’s stock after selling 3,403 shares during the period. Federated Hermes Inc.’s holdings in Townsquare Media were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Beck Mack & Oliver LLC raised its stake in Townsquare Media by 23.1% in the 3rd quarter. Beck Mack & Oliver LLC now owns 604,168 shares of the company’s stock worth $4,386,000 after purchasing an additional 113,393 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Townsquare Media by 7.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 336,979 shares of the company’s stock valued at $2,446,000 after buying an additional 24,379 shares in the last quarter. Millennium Management LLC raised its position in shares of Townsquare Media by 40.8% in the 2nd quarter. Millennium Management LLC now owns 114,638 shares of the company’s stock valued at $939,000 after buying an additional 33,197 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Townsquare Media by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 64,071 shares of the company’s stock valued at $820,000 after buying an additional 2,224 shares in the last quarter. Finally, State Street Corp raised its position in shares of Townsquare Media by 11.6% in the 1st quarter. State Street Corp now owns 29,739 shares of the company’s stock valued at $380,000 after buying an additional 3,097 shares in the last quarter. Institutional investors own 48.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSQ. Barrington Research reiterated an “outperform” rating and set a $17.00 price objective (down from $19.00) on shares of Townsquare Media in a research report on Friday. Guggenheim reduced their price objective on shares of Townsquare Media to $14.00 in a research note on Tuesday, November 15th. TheStreet downgraded shares of Townsquare Media from a “c” rating to a “d” rating in a research report on Friday, November 18th. Finally, StockNews.com downgraded shares of Townsquare Media from a “buy” rating to a “hold” rating in a research report on Friday.

Townsquare Media Stock Performance

TSQ opened at $8.04 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 8.31. The company’s fifty day moving average price is $7.40 and its two-hundred day moving average price is $7.59. Townsquare Media, Inc. has a 1-year low of $7.05 and a 1-year high of $13.16. The company has a market cap of $138.61 million, a price-to-earnings ratio of 11.82, a PEG ratio of 0.33 and a beta of 1.54.

Townsquare Media Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, March 27th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, March 24th. This represents a $0.75 annualized dividend and a dividend yield of 9.33%. This is an increase from Townsquare Media’s previous quarterly dividend of $0.08.

Townsquare Media Company Profile

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Townsquare Media, Inc is a community-focused digital media, digital marketing solutions and radio company. It owns and operates radio stations, digital and social properties and live events in small and mid-sized markets across the United States. The firm creates and distributes original entertainment, music and lifestyle content.