Townsquare Media (NYSE:TSQ) Rating Lowered to “Strong Sell” at Zacks Research

Townsquare Media (NYSE:TSQ) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen raised Townsquare Media from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $10.00 price target on shares of Townsquare Media in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Townsquare Media currently has a consensus rating of “Reduce” and a consensus target price of $10.00.

Townsquare Media Stock Up 0.4%

Townsquare Media stock opened at $6.78 on Monday. Townsquare Media has a 12-month low of $4.30 and a 12-month high of $9.31. The firm’s fifty day moving average is $6.61 and its 200 day moving average is $6.37. The company has a market capitalization of $115.89 million, a PE ratio of -15.76, a PEG ratio of 2.68 and a beta of 1.20.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $96.10 million for the quarter, compared to the consensus estimate of $96.46 million. Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%. Sell-side analysts expect that Townsquare Media will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Robert L. Worshek sold 34,299 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $6.62, for a total transaction of $227,059.38. Following the completion of the sale, the chief accounting officer directly owned 142,722 shares of the company’s stock, valued at approximately $944,819.64. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Erik Hellum sold 35,000 shares of Townsquare Media stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $6.44, for a total value of $225,400.00. Following the sale, the chief operating officer owned 914,542 shares in the company, valued at $5,889,650.48. This trade represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 30.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL increased its position in shares of Townsquare Media by 3.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock valued at $2,088,000 after purchasing an additional 12,300 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Townsquare Media in the 1st quarter worth about $129,000. XTX Topco Ltd bought a new position in Townsquare Media during the fourth quarter valued at about $83,000. Susquehanna International Group LLP bought a new position in Townsquare Media during the third quarter valued at about $144,000. Finally, Algert Global LLC purchased a new stake in Townsquare Media during the third quarter worth about $72,000. Institutional investors own 71.69% of the company’s stock.

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.