Barrington Research Has Lowered Expectations for Townsquare Media (NYSE:TSQ) Stock Price

Townsquare Media (NYSE:TSQ) had its target price reduced by equities research analysts at Barrington Research from $13.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target would indicate a potential upside of 121.40% from the stock’s previous close.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Townsquare Media in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.50.

Townsquare Media Stock Down 11.3%

NYSE TSQ traded down $0.69 on Monday, reaching $5.42. 172,565 shares of the stock traded hands, compared to its average volume of 78,437. The firm’s fifty day simple moving average is $6.63 and its 200 day simple moving average is $7.00. The company has a market cap of $89.13 million, a price-to-earnings ratio of 2.68, a P/E/G ratio of 1.88 and a beta of 1.16. Townsquare Media has a 12 month low of $5.27 and a 12 month high of $10.50.

Insider Activity at Townsquare Media

In other news, Director Stephen A. Kaplan purchased 10,000 shares of Townsquare Media stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $6.92 per share, for a total transaction of $69,200.00. Following the transaction, the director owned 208,618 shares in the company, valued at $1,443,636.56. The trade was a 5.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 30.50% of the company’s stock.

Institutional Trading of Townsquare Media

A number of hedge funds have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. grew its stake in Townsquare Media by 3.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 46,895 shares of the company’s stock valued at $382,000 after acquiring an additional 1,500 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Townsquare Media by 4.9% in the second quarter. Gabelli Funds LLC now owns 57,500 shares of the company’s stock worth $455,000 after purchasing an additional 2,700 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Townsquare Media by 23.2% during the 1st quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock valued at $147,000 after acquiring an additional 3,393 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Townsquare Media during the second quarter valued at approximately $33,000. Finally, Boyar Asset Management Inc. grew its stake in Townsquare Media by 17.7% in the 2nd quarter. Boyar Asset Management Inc. now owns 42,540 shares of the company’s stock valued at $336,000 after buying an additional 6,387 shares during the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Townsquare Media Company Profile

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.