Zacks Investment Research downgraded shares of Townsquare Media Inc. (NYSE:TSQ) from a hold rating to a sell rating in a report released on Thursday morning.
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 decreased their target price on shares of Townsquare Media from $12.00 to $10.00 and set a buy rating on the stock in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $12.00.
Shares of Townsquare Media (NYSE:TSQ) opened at 9.39 on Thursday. The stock’s 50 day moving average price is $9.41 and its 200-day moving average price is $9.26. Townsquare Media has a 52-week low of $7.30 and a 52-week high of $12.05. The stock has a market cap of $172.72 million, a price-to-earnings ratio of 13.36 and a beta of 1.70.
Townsquare Media (NYSE:TSQ) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.03. Townsquare Media had a return on equity of 4.26% and a net margin of 4.84%. The business had revenue of $137.20 million for the quarter, compared to analysts’ expectations of $140.08 million. On average, analysts predict that Townsquare Media will post $1.11 earnings per share for the current fiscal year.
In other news, Chairman Steven Price bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average price of $7.20 per share, for a total transaction of $360,000.00. Following the completion of the transaction, the chairman now owns 60,737 shares in the company, valued at $437,306.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 26.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of Townsquare Media during the first quarter worth $126,000. Spark Investment Management LLC bought a new position in shares of Townsquare Media during the first quarter worth $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 worth $114,000 after buying an additional 1,597 shares during the period. 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 worth $130,000 after buying an additional 9,859 shares during the period. 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 worth $143,000 after buying an additional 3,638 shares during the period. Institutional investors own 68.71% of the company’s stock.
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.