Townsquare Media Inc. (TSQ) Upgraded to Hold at Zacks Investment Research
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 shares of Townsquare Media from $12.00 to $10.00 and set a buy rating on the stock in a research report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $12.00.
Townsquare Media (NYSE:TSQ) traded up 0.32% during trading on Wednesday, hitting $9.43. 8,858 shares of the company traded hands. The company’s 50-day moving average is $9.41 and its 200 day moving average is $9.26. The firm has a market cap of $173.46 million, a price-to-earnings ratio of 13.41 and a beta of 1.70. Townsquare Media has a 52-week low of $7.30 and a 52-week high of $12.05.
Townsquare Media (NYSE:TSQ) last announced its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $137.20 million for the quarter, compared to analysts’ expectations of $140.08 million. Townsquare Media had a return on equity of 4.26% and a net margin of 4.84%. On average, equities analysts anticipate that Townsquare Media will post $1.11 earnings per share for the current year.
In other news, Chairman Steven Price purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was acquired at an average price of $7.20 per share, with a total value of $360,000.00. Following the purchase, the chairman now directly owns 60,737 shares of the company’s stock, valued at approximately $437,306.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 26.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSQ. Emerald Acquisition Ltd. purchased a new position in Townsquare Media during the second quarter valued at about $3,139,000. Spark Investment Management LLC purchased a new position in Townsquare Media during the first quarter valued at about $152,000. State Street Corp increased its position in Townsquare Media by 2.4% in the first quarter. State Street Corp now owns 85,463 shares of the company’s stock valued at $955,000 after buying an additional 2,036 shares during the period. Renaissance Technologies LLC purchased a new position in Townsquare Media during the first quarter valued at about $126,000. Finally, Teton Advisors Inc. purchased a new position in Townsquare Media during the second quarter valued at about $600,000. 68.71% of the stock is owned by institutional investors and hedge funds.
About Townsquare Media
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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