Townsquare Media (NYSE:TSQ) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued on Tuesday, Zacks.com reports.
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. "
A number of other equities research analysts have also recently commented on TSQ. Barrington Research upgraded shares of Townsquare Media from a "market perform" rating to an "outperform" rating and set a $15.00 target price on the stock in a research note on Wednesday, January 27th. Noble Financial lifted their price objective on shares of Townsquare Media from $8.00 to $12.00 in a research note on Wednesday, December 16th.
TSQ stock opened at $10.15 on Tuesday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 5.67. The business has a 50 day moving average of $8.94 and a 200 day moving average of $6.29. Townsquare Media has a twelve month low of $3.54 and a twelve month high of $11.25.
Large investors have recently modified their holdings of the company. Cumberland Partners Ltd acquired a new stake in Townsquare Media in the fourth quarter valued at approximately $67,000. Group One Trading L.P. acquired a new stake in Townsquare Media in the fourth quarter valued at approximately $67,000. Abacus Planning Group Inc. acquired a new stake in Townsquare Media in the fourth quarter valued at approximately $89,000. Ancora Advisors LLC acquired a new stake in Townsquare Media in the fourth quarter valued at approximately $215,000. Finally, Sei Investments Co. boosted its stake in Townsquare Media by 23.6% in the third quarter. Sei Investments Co. now owns 48,000 shares of the company's stock valued at $224,000 after acquiring an additional 9,169 shares in the last quarter. 44.72% of the stock is currently owned by institutional investors and hedge funds.
About Townsquare Media
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. It operates through Advertising, Townsquare Interactive, and Live Events segments. The company provides advertising and marketing solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications; and digital advertising services, as well as operates Townsquare Ignite, a digital programmatic advertising platform.
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