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 lowered 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 note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $12.00.
Townsquare Media (NYSE:TSQ) opened at 9.61 on Thursday. The firm has a 50-day moving average of $9.40 and a 200 day moving average of $9.26. The firm has a market cap of $176.77 million, a price-to-earnings ratio of 13.67 and a beta of 1.70. Townsquare Media has a 52-week low of $7.30 and a 52-week high of $12.05.
Townsquare Media (NYSE:TSQ) last posted its earnings results 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. The business earned $137.20 million during the quarter, compared to the consensus estimate of $140.08 million. Townsquare Media had a net margin of 4.84% and a return on equity of 4.26%. On average, equities research analysts forecast that Townsquare Media will post $1.11 earnings per share for the current year.
In other news, Chairman Steven Price acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were purchased at an average cost of $7.20 per share, with a total value of $360,000.00. Following the completion of the purchase, the chairman now owns 60,737 shares of the company’s stock, valued at $437,306.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 26.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in TSQ. Royal Bank of Canada raised its position in shares of Townsquare Media by 219.7% in the second quarter. Royal Bank of Canada now owns 27,650 shares of the company’s stock worth $218,000 after buying an additional 19,000 shares during the last quarter. American Century Companies Inc. raised its position in shares of Townsquare Media by 24.5% in the second quarter. American Century Companies Inc. now owns 421,433 shares of the company’s stock worth $3,325,000 after buying an additional 83,061 shares during the last quarter. Bridgeway Capital Management Inc. raised its position in shares of Townsquare Media by 54.0% in the second quarter. Bridgeway Capital Management Inc. now owns 370,952 shares of the company’s stock worth $2,927,000 after buying an additional 130,000 shares during the last quarter. State Street Corp raised its position in shares of Townsquare Media by 5.9% in the second quarter. State Street Corp now owns 90,522 shares of the company’s stock worth $713,000 after buying an additional 5,059 shares during the last quarter. Finally, Coe Capital Management LLC raised its position in shares of Townsquare Media by 50.1% in the second quarter. Coe Capital Management LLC now owns 146,766 shares of the company’s stock worth $1,158,000 after buying an additional 48,985 shares during the last quarter. 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.
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