Access Investment Management LLC Sells 264,935 Shares of Townsquare Media, Inc. $TSQ

Access Investment Management LLC trimmed its holdings in Townsquare Media, Inc. (NYSE:TSQ - Free Report) by 66.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,575 shares of the company's stock after selling 264,935 shares during the quarter. Access Investment Management LLC owned about 0.77% of Townsquare Media worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TSQ. Algert Global LLC bought a new stake in Townsquare Media during the 3rd quarter worth approximately $72,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Townsquare Media by 80.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 54,919 shares of the company's stock worth $369,000 after purchasing an additional 24,536 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Townsquare Media by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 82,599 shares of the company's stock worth $555,000 after buying an additional 8,691 shares during the period. Man Group plc increased its stake in Townsquare Media by 33.3% in the 2nd quarter. Man Group plc now owns 49,311 shares of the company's stock worth $390,000 after buying an additional 12,328 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Townsquare Media by 289.3% in the 2nd quarter. Jane Street Group LLC now owns 46,917 shares of the company's stock worth $371,000 after buying an additional 34,866 shares in the last quarter. 71.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TSQ shares. Wall Street Zen raised Townsquare Media from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Zacks Research downgraded Townsquare Media from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Barrington Research reaffirmed an "outperform" rating and set a $10.00 price objective on shares of Townsquare Media in a report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Townsquare Media from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Townsquare Media presently has a consensus rating of "Reduce" and a consensus price target of $10.00.

Townsquare Media Stock Up 5.1%

TSQ stock opened at $5.99 on Friday. The stock has a market capitalization of $102.39 million, a PE ratio of -13.93, a price-to-earnings-growth ratio of 2.26 and a beta of 1.20. Townsquare Media, Inc. has a 52 week low of $4.30 and a 52 week high of $7.97. The firm has a 50 day moving average of $6.57 and a 200 day moving average of $6.45.

Townsquare Media (NYSE:TSQ - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.04). Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%.The company had revenue of $96.10 million during the quarter, compared to analysts' expectations of $96.46 million. On average, equities research analysts expect that Townsquare Media, Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Erik Hellum sold 35,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $6.44, for a total value of $225,400.00. Following the sale, the chief operating officer owned 914,542 shares in the company, valued at $5,889,650.48. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert L. Worshek sold 34,299 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $6.62, for a total value of $227,059.38. Following the sale, the chief accounting officer directly owned 142,722 shares in the company, valued at approximately $944,819.64. This trade represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 30.30% of the stock is owned by corporate insiders.

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.

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