Townsquare Media Inc. (TSQ) Upgraded to “Hold” at Zacks Investment Research
Townsquare Media Inc. (NYSE:TSQ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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 cut their price target on Townsquare Media from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Townsquare Media currently has an average rating of “Buy” and an average target price of $12.00.
Shares of Townsquare Media (NYSE:TSQ) opened at 9.39 on Wednesday. Townsquare Media has a 12 month low of $7.30 and a 12 month high of $12.05. The firm’s 50-day moving average price is $9.41 and its 200-day moving average price is $9.26. The company has a market capitalization of $172.72 million, a price-to-earnings ratio of 13.36 and a beta of 1.70.
Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.03. The company earned $137.20 million during the quarter, compared to analyst estimates of $140.08 million. Townsquare Media had a net margin of 4.84% and a return on equity of 4.26%. Equities research analysts expect that Townsquare Media will post $1.11 EPS for the current year.
In other news, Chairman Steven Price acquired 50,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were bought at an average price of $7.20 per share, with a total value of $360,000.00. Following the completion of the acquisition, the chairman now owns 60,737 shares in the company, valued at approximately $437,306.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 26.20% of the company’s stock.
Several institutional investors have recently modified their holdings of TSQ. Renaissance Technologies LLC purchased a new position in shares of Townsquare Media during the first quarter valued at about $126,000. Spark Investment Management LLC purchased a new position in shares of Townsquare Media during the first quarter valued at about $152,000. Teachers Advisors Inc. raised its position in shares of Townsquare Media by 12.5% in the second quarter. Teachers Advisors Inc. now owns 14,404 shares of the company’s stock valued at $114,000 after buying an additional 1,597 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Townsquare Media by 149.9% in the second quarter. Nationwide Fund Advisors now owns 16,436 shares of the company’s stock valued at $130,000 after buying an additional 9,859 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Townsquare Media by 25.1% in the second quarter. California State Teachers Retirement System now owns 18,109 shares of the company’s stock valued at $143,000 after buying an additional 3,638 shares during the last quarter. 68.71% of the stock is currently owned by institutional investors.
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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