Townsquare Media, Inc. $TSQ Stock Bought by Capital Management Corp VA

Key Points

• Capital Management Corp VA increased its Townsquare Media stake by 18.9% in the third quarter, adding 542,841 shares to own 3.41 million shares, or approximately 18.7% of TSQ. Institutional investors collectively own 71.69% of the company.
• Townsquare Media reported quarterly EPS of $0.21, beating estimates of $0.19, while revenue totaled $114.0 million, slightly below expectations. Analysts forecast full-year EPS of $0.34.
• Analyst sentiment remains mixed, with TSQ carrying a consensus “Hold” rating and a $10.00 target price. The stock opened at $3.18, compared with a 52-week range of $2.88 to $7.97.

Capital Management Corp VA grew its stake in Townsquare Media, Inc. (NYSE:TSQ - Free Report) by 18.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,409,181 shares of the company's stock after buying an additional 542,841 shares during the period. Townsquare Media makes up approximately 2.4% of Capital Management Corp VA's holdings, making the stock its 16th biggest position. Capital Management Corp VA owned about 18.70% of Townsquare Media worth $16,057,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Gamco Investors INC. ET AL raised its stake in shares of Townsquare Media by 3.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company's stock valued at $2,088,000 after acquiring an additional 12,300 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Townsquare Media by 3.8% during the 1st quarter. Gabelli Funds LLC now owns 63,300 shares of the company's stock worth $344,000 after purchasing an additional 2,300 shares during the period. Janney Montgomery Scott LLC raised its holdings in Townsquare Media by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company's stock valued at $249,000 after acquiring an additional 2,319 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Townsquare Media in the second quarter valued at $233,000. Finally, Cetera Investment Advisers bought a new position in Townsquare Media in the first quarter worth $129,000. Institutional investors own 71.69% of the company's stock.

Townsquare Media Trading Up 7.2%

Shares of NYSE TSQ opened at $3.18 on Tuesday. Townsquare Media, Inc. has a 1-year low of $2.88 and a 1-year high of $7.97. The company has a 50-day moving average of $4.65 and a two-hundred day moving average of $5.98. The company has a market cap of $58.04 million, a PE ratio of 20.53 and a beta of 1.27.

Townsquare Media (NYSE:TSQ - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $114.00 million for the quarter, compared to analysts' expectations of $114.74 million. Townsquare Media had a negative net margin of 11.82% and a negative return on equity of 5.59%. As a group, equities research analysts forecast that Townsquare Media, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSQ. Zacks Research upgraded shares of Townsquare Media from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. Weiss Ratings downgraded shares of Townsquare Media from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Townsquare Media from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Insider Buying and Selling at Townsquare Media

In other news, CEO Bill Wilson sold 21,420 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $5.54, for a total transaction of $118,666.80. Following the transaction, the chief executive officer owned 2,979,061 shares of the company's stock, valued at $16,503,997.94. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 30.30% of the stock is currently owned by insiders.

Townsquare Media Profile

Townsquare Media, Inc NYSE: TSQ is a local media and digital marketing company serving communities across the United States. Its operations are organized around local radio, digital media and events, providing audiences with news, entertainment, information and community-focused programming.

The company owns and operates radio stations in small and mid-sized markets, with programming distributed through broadcast and digital channels. Townsquare also publishes local websites and mobile content, offering advertising and promotional opportunities across audio, display, video, social media and other digital formats.

Through Townsquare Interactive and related services, the company provides digital marketing solutions to small and medium-sized businesses, including website development, search engine marketing, social media support and online reputation management.

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