Townsquare Media (NYSE:TSQ) Price Target Lowered to $10.00 at Barrington Research

Townsquare Media (NYSE:TSQGet Free Report) had its target price cut by analysts at Barrington Research from $12.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target suggests a potential upside of 63.53% from the stock’s previous close.

TSQ has been the topic of several other reports. Wall Street Zen cut Townsquare Media from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Townsquare Media in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $15.50.

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Townsquare Media Stock Performance

Shares of NYSE:TSQ opened at $6.12 on Tuesday. The firm has a fifty day moving average of $6.57 and a 200 day moving average of $6.16. Townsquare Media has a 52-week low of $4.30 and a 52-week high of $9.31. The firm has a market capitalization of $100.65 million, a PE ratio of 5.90, a price-to-earnings-growth ratio of 0.92 and a beta of 0.95.

Townsquare Media (NYSE:TSQGet Free Report) last posted its quarterly earnings data on Monday, March 16th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). Townsquare Media had a negative return on equity of 47.95% and a net margin of 4.27%.The firm had revenue of $106.50 million during the quarter, compared to analysts’ expectations of $106.40 million. On average, sell-side analysts forecast that Townsquare Media will post 1.07 EPS for the current fiscal year.

Insider Transactions at Townsquare Media

In other Townsquare Media news, COO Erik Hellum sold 7,437 shares of Townsquare Media stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $5.54, for a total value of $41,200.98. Following the completion of the sale, the chief operating officer owned 1,029,150 shares of the company’s stock, valued at approximately $5,701,491. The trade was a 0.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 19,652 shares of company stock worth $106,335. 29.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Townsquare Media

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of Townsquare Media during the 2nd quarter valued at about $33,000. Crews Bank & Trust bought a new position in Townsquare Media in the 4th quarter valued at $26,000. AlphaCore Capital LLC purchased a new stake in Townsquare Media in the third quarter worth $69,000. Algert Global LLC bought a new stake in shares of Townsquare Media during the third quarter worth $72,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Townsquare Media during the second quarter valued at $101,000. 71.69% of the stock is owned by hedge funds and other institutional investors.

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About Townsquare Media

(Get Free Report)

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.

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