Townsquare Media Inc. (TSQ) Trading Up 12%
Townsquare Media Inc. (NYSE:TSQ) was up 12% during mid-day trading on Wednesday . The stock traded as high as $9.70 and last traded at $9.43, with a volume of 107,642 shares traded. The stock had previously closed at $8.42.
Several equities research analysts have recently issued reports on TSQ shares. Jefferies Group dropped their price objective on shares of Townsquare Media from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Macquarie lowered shares of Townsquare Media from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $12.00 to $9.00 in a research report on Monday, May 23rd. Finally, Zacks Investment Research raised shares of Townsquare Media from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.00.
The stock has a market capitalization of $174.19 million and a price-to-earnings ratio of 13.47. The firm’s 50 day moving average price is $8.35 and its 200-day moving average price is $9.55.
Townsquare Media (NYSE:TSQ) last released its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.03. The firm had revenue of $137.20 million for the quarter, compared to analyst estimates of $140.08 million. On average, equities research analysts anticipate that Townsquare Media Inc. will post $1.11 earnings per share for the current year.
In other news, Chairman Steven Price bought 50,000 shares of the company’s 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 completion of the transaction, the chairman now directly owns 60,737 shares in the company, valued at approximately $437,306.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.