Townsquare Media (NYSE:TSQ) Given "Outperform" Rating at Barrington Research

Key Points

• Barrington Research reiterated an “outperform” rating on Townsquare Media and kept its $10 price target, implying about 37% upside from the current share price.
• The stock rose 11.1% to $7.28 on Monday, with trading volume above average; Townsquare Media now has a market cap of about $124.4 million.
• Recent results were weaker than expected, as the company reported -$0.16 EPS versus estimates of -$0.12 and revenue of $96.1 million slightly below forecasts, while analyst views remain mixed with a current consensus of Hold.

Townsquare Media (NYSE:TSQ - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Barrington Research in a report issued on Monday,Benzinga reports. They currently have a $10.00 price target on the stock. Barrington Research's price target would indicate a potential upside of 37.46% from the stock's current price.

Separately, Weiss Ratings downgraded Townsquare Media from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $10.00.

Townsquare Media Stock Up 11.1%

Shares of Townsquare Media stock traded up $0.73 during trading hours on Monday, hitting $7.28. 182,606 shares of the company's stock traded hands, compared to its average volume of 165,272. The stock has a 50 day simple moving average of $6.37 and a 200-day simple moving average of $5.97. The company has a market cap of $124.44 million, a PE ratio of -10.31, a PEG ratio of 1.42 and a beta of 1.18. Townsquare Media has a twelve month low of $4.30 and a twelve month high of $9.31.

Townsquare Media (NYSE:TSQ - Get Free Report) last issued its 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). The company had revenue of $96.10 million during the quarter, compared to analyst estimates of $96.46 million. Townsquare Media had a negative net margin of 2.58% and a negative return on equity of 13.74%. As a group, equities research analysts predict that Townsquare Media will post 0.38 EPS for the current year.

Insider Buying and Selling

In related news, EVP Scott Schatz sold 28,980 shares of Townsquare Media stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $5.08, for a total value of $147,218.40. Following the completion of the transaction, the executive vice president directly owned 123,977 shares in the company, valued at approximately $629,803.16. This trade represents a 18.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 30.30% of the company's stock.

Hedge Funds Weigh In On Townsquare Media

Several institutional investors have recently made changes to their positions in TSQ. Crews Bank & Trust bought a new position in shares of Townsquare Media during the fourth quarter valued at approximately $26,000. Raymond James Financial Inc. bought a new position in shares of Townsquare Media during the second quarter valued at approximately $33,000. AlphaCore Capital LLC bought a new position in shares of Townsquare Media during the third quarter valued at approximately $69,000. Algert Global LLC bought a new position in shares of Townsquare Media during the third quarter valued at approximately $72,000. Finally, XTX Topco Ltd bought a new position in shares of Townsquare Media during the fourth quarter valued at approximately $83,000. 71.69% of the stock is owned by institutional investors.

Townsquare Media Company Profile

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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