Townsquare Media Inc. (NYSE:TSQ)’s share price fell 2.6% during mid-day trading on Thursday . The company traded as low as $9.45 and last traded at $9.47, with a volume of 67,346 shares. The stock had previously closed at $9.72.

A number of brokerages have recently issued reports on TSQ. Zacks Investment Research upgraded Townsquare Media from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. Macquarie downgraded Townsquare Media from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $12.00 to $9.00 in a research report on Monday, May 23rd. Finally, Jefferies Group lowered their price objective on Townsquare Media from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Townsquare Media presently has a consensus rating of “Buy” and an average target price of $12.00.

The firm has a market capitalization of $174.93 million and a price-to-earnings ratio of 13.53. The company has a 50 day moving average of $8.40 and a 200-day moving average of $9.54.

Townsquare Media (NYSE:TSQ) last posted its earnings results 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. The company earned $137.20 million during the quarter, compared to analyst estimates of $140.08 million. Equities analysts forecast that Townsquare Media Inc. will post $1.11 EPS for the current fiscal year.

In other Townsquare Media news, Chairman Steven Price bought 50,000 shares of Townsquare Media stock in a transaction that occurred on Tuesday, August 16th. The stock was acquired at an average cost of $7.20 per share, for a total transaction of $360,000.00. Following the completion of the transaction, the chairman now directly owns 60,737 shares in the company, valued at $437,306.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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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