Townsquare Media (NYSE:TSQ) Raised to Hold at Zacks Research

Townsquare Media (NYSE:TSQ) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages also recently issued reports on TSQ. Weiss Ratings downgraded shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Wall Street Zen cut shares of Townsquare Media from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $10.00 price objective on shares of Townsquare Media in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Townsquare Media Trading Up 3.1%

Shares of NYSE:TSQ opened at $5.94 on Thursday. Townsquare Media has a 12-month low of $4.30 and a 12-month high of $7.97. The business has a 50 day moving average of $6.38 and a two-hundred day moving average of $6.45. The company has a market capitalization of $108.29 million, a PE ratio of -2.06 and a beta of 1.22.

Townsquare Media (NYSE:TSQ) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $114.00 million for the quarter, compared to analysts’ expectations of $114.74 million. Townsquare Media had a negative net margin of 11.82% and a negative return on equity of 5.59%. Equities research analysts predict that Townsquare Media will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Townsquare Media news, COO Erik Hellum sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $6.44, for a total transaction of $225,400.00. Following the completion of the sale, the chief operating officer directly owned 914,542 shares in the company, valued at approximately $5,889,650.48. The trade was a 3.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bill Wilson sold 21,420 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $5.54, for a total value of $118,666.80. Following the transaction, the chief executive officer directly owned 2,979,061 shares of the company’s stock, valued at $16,503,997.94. The trade was a 0.71% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 217,463 shares of company stock worth $1,282,160. Insiders own 30.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC lifted its holdings in Townsquare Media by 8.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock valued at $5,518,000 after purchasing an additional 85,000 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Townsquare Media by 3.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock worth $2,088,000 after purchasing an additional 12,300 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Townsquare Media by 52.7% during the first quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock worth $2,212,000 after buying an additional 93,753 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Townsquare Media by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 153,075 shares of the company’s stock worth $787,000 after buying an additional 8,177 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 buying an additional 13,373 shares during the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.

Townsquare Media Company Profile

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.