Townsquare Media (NYSE:TSQ) Upgraded at Zacks Research

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

Several other research firms have also weighed in on TSQ. Weiss Ratings lowered shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Barrington Research reiterated an “outperform” rating and set a $10.00 price target on shares of Townsquare Media in a research report on Monday, May 11th. Finally, Wall Street Zen cut Townsquare Media from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Townsquare Media has a consensus rating of “Hold” and a consensus price target of $10.00.

Townsquare Media Price Performance

TSQ stock opened at $5.94 on Thursday. The firm has a market cap of $108.29 million, a price-to-earnings ratio of -2.06 and a beta of 1.22. Townsquare Media has a 1-year low of $4.30 and a 1-year high of $7.97. The firm has a fifty day moving average price of $6.38 and a two-hundred day moving average price of $6.45.

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

Insider Activity

In other news, CAO Robert L. Worshek sold 34,299 shares of the business’s 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 transaction, the chief accounting officer directly owned 142,722 shares in the company, valued at approximately $944,819.64. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Erik Hellum sold 35,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 914,542 shares of the company’s stock, valued at $5,889,650.48. This trade represents a 3.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 217,463 shares of company stock valued at $1,282,160. Insiders own 30.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TSQ. Beck Mack & Oliver LLC increased its holdings in shares of Townsquare Media by 8.6% during the fourth 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 during the period. Gamco Investors INC. ET AL grew its position in Townsquare Media by 3.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock valued at $2,088,000 after buying an additional 12,300 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Townsquare Media by 52.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock valued at $2,212,000 after buying an additional 93,753 shares during the period. Geode Capital Management LLC increased its stake in Townsquare Media by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 153,075 shares of the company’s stock valued at $787,000 after buying an additional 8,177 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Townsquare Media by 16.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 95,972 shares of the company’s stock worth $493,000 after buying an additional 13,373 shares in the last quarter. Institutional investors and hedge funds 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.