Townsquare Media, Inc. (NYSE:TSQ) Rating Increased to Buy at Zacks Investment Research
Townsquare Media, Inc. (NYSE:TSQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $12.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 4.99% from the stock’s previous close.
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, Royal Bank Of Canada set a $13.00 price objective on Townsquare Media and gave the company a “buy” rating in a report on Tuesday.
Townsquare Media (NYSE TSQ) traded up 1.06% during trading on Wednesday, reaching $11.43. The company’s stock had a trading volume of 48,192 shares. Townsquare Media has a 1-year low of $7.78 and a 1-year high of $13.01. The stock has a 50 day moving average price of $10.27 and a 200 day moving average price of $10.85. The stock has a market capitalization of $211.09 million, a PE ratio of 14.64 and a beta of 1.70.
Townsquare Media (NYSE:TSQ) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.03. Townsquare Media had a net margin of 4.20% and a return on equity of 6.80%. The business had revenue of $88.42 million during the quarter, compared to analysts’ expectations of $88.90 million. Analysts anticipate that Townsquare Media will post $1.05 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in Townsquare Media by 582.1% in the fourth quarter. Renaissance Technologies LLC now owns 450,200 shares of the company’s stock worth $4,687,000 after buying an additional 384,200 shares during the last quarter. Two Sigma Investments LP purchased a new position in Townsquare Media during the fourth quarter worth about $1,090,000. Algert Global LLC increased its position in Townsquare Media by 158.6% in the first quarter. Algert Global LLC now owns 121,035 shares of the company’s stock worth $1,474,000 after buying an additional 74,229 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Townsquare Media during the first quarter worth about $793,000. Finally, Dimensional Fund Advisors LP increased its position in Townsquare Media by 74.5% in the first quarter. Dimensional Fund Advisors LP now owns 132,341 shares of the company’s stock worth $1,612,000 after buying an additional 56,509 shares in the last quarter. Institutional investors and hedge funds own 48.67% of the company’s stock.
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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