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 cut their target price on Townsquare Media from $12.00 to $10.00 and set a buy rating on the stock in a research report on Friday, August 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Townsquare Media presently has an average rating of Buy and a consensus target price of $12.00.
Shares of Townsquare Media (NYSE:TSQ) opened at 9.00 on Wednesday. The stock has a market capitalization of $165.55 million, a P/E ratio of 12.80 and a beta of 1.70. The company’s 50 day moving average price is $9.39 and its 200 day moving average price is $9.20. Townsquare Media has a one year low of $7.30 and a one year high of $12.05.
Townsquare Media (NYSE:TSQ) last announced its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $137.20 million for the quarter, compared to analyst estimates of $140.08 million. Townsquare Media had a return on equity of 4.26% and a net margin of 4.84%. On average, equities analysts expect that Townsquare Media will post $1.11 earnings per share for the current year.
In other Townsquare Media news, Chairman Steven Price purchased 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 26.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TSQ. Emerald Acquisition Ltd. acquired a new position in Townsquare Media during the second quarter valued at $3,139,000. Spark Investment Management LLC acquired a new position in Townsquare Media during the first quarter valued at $152,000. State Street Corp raised its position in Townsquare Media by 2.4% in the first quarter. State Street Corp now owns 85,463 shares of the company’s stock valued at $955,000 after buying an additional 2,036 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Townsquare Media during the first quarter valued at $126,000. Finally, Teton Advisors Inc. acquired a new position in Townsquare Media during the second quarter valued at $600,000. 68.71% of the stock is currently owned by hedge funds and other institutional investors.
About Townsquare Media
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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