Zacks Investment Research downgraded shares of Townsquare Media Inc. (NYSE:TSQ) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “Townsquare Media, Inc. is a local media and entertainment company. It owns and operates radio, digital and live event properties in small to mid-sized markets across the country. Townsquare Media specializes in creating and distributing original entertainment, music and lifestyle content. Its assets include radio stations, local companion websites, and a streaming radio App called radioPup for iOS and Android, and live events. The Company owns FM and AM radio stations in markets in Colorado, Illinois, Indiana, Kentucky, Louisiana, Michigan, Minnesota, New York, and Texas. Townsquare Media, Inc. is based in United States. “

Separately, Jefferies Group lowered their target price on Townsquare Media from $12.00 to $10.00 and set a buy rating on the stock in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $12.00.

Shares of Townsquare Media (NYSE:TSQ) traded down 1.12% during trading on Thursday, hitting $9.69. The stock had a trading volume of 6,158 shares. The company has a market cap of $178.24 million, a PE ratio of 13.78 and a beta of 1.70. Townsquare Media has a 12 month low of $7.30 and a 12 month high of $12.05. The stock has a 50 day moving average of $9.40 and a 200 day moving average of $9.30.

Townsquare Media (NYSE:TSQ) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Townsquare Media had a return on equity of 4.26% and a net margin of 4.84%. The firm earned $137.20 million during the quarter, compared to the consensus estimate of $140.08 million. Equities analysts forecast that Townsquare Media will post $1.11 EPS for the current fiscal year.

In other news, Chairman Steven Price bought 50,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were acquired at an average cost of $7.20 per share, with a total value of $360,000.00. Following the purchase, the chairman now directly owns 60,737 shares in the company, valued at approximately $437,306.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 26.20% of the company’s stock.

Large investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. purchased a new stake in Townsquare Media during the second quarter valued at about $3,139,000. Bridgeway Capital Management Inc. raised its position in shares of Townsquare Media by 54.0% in the second quarter. Bridgeway Capital Management Inc. now owns 370,952 shares of the company’s stock worth $2,927,000 after buying an additional 130,000 shares in the last quarter. American Century Companies Inc. raised its position in shares of Townsquare Media by 24.5% in the second quarter. American Century Companies Inc. now owns 421,433 shares of the company’s stock worth $3,325,000 after buying an additional 83,061 shares in the last quarter. Teton Advisors Inc. bought a new position in shares of Townsquare Media during the second quarter worth $600,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Townsquare Media by 42.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 171,617 shares of the company’s stock worth $1,354,000 after buying an additional 51,360 shares in the last quarter. 68.71% of the stock is currently owned by institutional investors and hedge funds.

Townsquare Media Company Profile

Townsquare Media, Inc is a media, entertainment and digital marketing solutions company principally focused on small and mid-sized markets across the United States. The Company operates through two segments: Local Advertising and Live Events. The Company’s Local Advertising segment offers broadcast, digital and mobile advertising within its local markets.

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