Townsquare Media (NYSE:TSQ) Announces Earnings Results

Townsquare Media (NYSE:TSQ) issued its earnings results on Monday. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.06), FiscalAI reports. Townsquare Media had a negative return on equity of 47.95% and a net margin of 4.27%.The company had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $106.40 million.

Townsquare Media Stock Performance

Shares of TSQ stock opened at $7.06 on Monday. The stock has a fifty day moving average price of $6.55 and a 200 day moving average price of $6.16. The stock has a market cap of $116.21 million, a PE ratio of 6.85, a P/E/G ratio of 0.92 and a beta of 0.95. Townsquare Media has a 1 year low of $4.30 and a 1 year high of $9.31.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSQ. Wall Street Zen downgraded shares of Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Townsquare Media in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.50.

Insiders Place Their Bets

In other news, COO Erik Hellum sold 6,522 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $5.57, for a total value of $36,327.54. Following the completion of the transaction, the chief operating officer owned 969,648 shares in the company, valued at $5,400,939.36. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 19,652 shares of company stock valued at $106,335 over the last quarter. 29.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Townsquare Media

Several institutional investors and hedge funds have recently made changes to their positions in TSQ. XTX Topco Ltd acquired a new stake in Townsquare Media in the 4th quarter valued at about $83,000. CastleKnight Management LP purchased a new position in Townsquare Media during the 4th quarter valued at about $209,000. Marshall Wace LLP raised its position in Townsquare Media by 6.3% during the fourth quarter. Marshall Wace LLP now owns 37,953 shares of the company’s stock worth $195,000 after acquiring an additional 2,256 shares during the last quarter. Beck Mack & Oliver LLC raised its position in Townsquare Media by 8.6% during the fourth quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock worth $5,518,000 after acquiring an additional 85,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Townsquare Media by 16.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 95,972 shares of the company’s stock valued at $493,000 after purchasing an additional 13,373 shares in the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

About Townsquare Media

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.