Townsquare Media Inc. (NYSE:TSQ)’s share price dropped 5.1% on Thursday . The company traded as low as $9.22 and last traded at $9.25, with a volume of 69,319 shares traded. The stock had previously closed at $9.75.

Several equities analysts have commented on the stock. Jefferies Group decreased their price objective on shares of Townsquare Media from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Zacks Investment Research upgraded shares of Townsquare Media from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Macquarie downgraded shares of Townsquare Media from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $12.00 to $9.00 in a report on Monday, May 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Townsquare Media currently has a consensus rating of “Buy” and an average price target of $12.00.

The stock’s 50 day moving average price is $8.69 and its 200 day moving average price is $9.48. The firm has a market capitalization of $165.73 million and a P/E ratio of 12.82.

Townsquare Media (NYSE:TSQ) last issued 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 company earned $137.20 million during the quarter, compared to the consensus estimate of $140.08 million. Equities analysts forecast that Townsquare Media Inc. will post $1.11 EPS for the current year.

In other news, Chairman Steven Price bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average cost of $7.20 per share, for a total transaction of $360,000.00. Following the acquisition, the chairman now directly owns 60,737 shares in the company, valued at $437,306.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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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