Townsquare Media Inc. (TSQ) Sees Large Volume Increase
Townsquare Media Inc. (NYSE:TSQ) shares saw an uptick in trading volume on Friday . 101,100 shares traded hands during trading, an increase of 59% from the previous session’s volume of 63,513 shares.The stock last traded at $8.33 and had previously closed at $8.33.
A number of brokerages have weighed in on TSQ. Zacks Investment Research cut shares of Townsquare Media from a “hold” rating to a “sell” rating in a research report on Wednesday. Macquarie cut shares of Townsquare Media from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $12.00 to $9.00 in a research report on Monday, May 23rd.
The company has a 50-day moving average price of $8.49 and a 200-day moving average price of $9.85. The stock has a market cap of $153.22 million and a price-to-earnings ratio of 23.80.
Townsquare Media (NYSE:TSQ) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). Equities analysts anticipate that Townsquare Media Inc. will post $1.18 EPS for the current year.
An institutional investor recently raised its position in Townsquare Media stock. American Century Companies Inc. increased its stake in Townsquare Media Inc. (NYSE:TSQ) by 26.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 344,558 shares of the company’s stock after buying an additional 72,202 shares during the period. American Century Companies Inc. owned about 1.93% of Townsquare Media worth $4,121,000 at the end of the most recent quarter.
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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