Townsquare Media (NYSE:TSQ) Upgraded by Zacks Research to "Hold" Rating

Townsquare Media (NYSE:TSQ - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

A number of other research analysts have also recently commented on TSQ. Wall Street Zen cut shares of Townsquare Media from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Townsquare Media from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $10.00 price target on shares of Townsquare Media in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Townsquare Media Stock Performance

Shares of NYSE:TSQ opened at $5.94 on Thursday. The company has a market cap of $108.29 million, a P/E ratio of -2.06 and a beta of 1.22. Townsquare Media has a one year low of $4.30 and a one year high of $7.97. The business's 50-day simple moving average is $6.38 and its 200 day simple moving average is $6.45.

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

Insider Activity at Townsquare Media

In related news, CAO Robert L. Worshek sold 34,299 shares of the company's stock in a transaction on Thursday, May 28th. The shares were 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 of the company's stock, valued at $944,819.64. This represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Erik Hellum sold 35,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total transaction of $225,400.00. Following the transaction, the chief operating officer owned 914,542 shares in the company, valued at $5,889,650.48. This trade represents a 3.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 217,463 shares of company stock valued at $1,282,160 over the last ninety days. Corporate insiders own 30.30% of the company's stock.

Hedge Funds Weigh In On Townsquare Media

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

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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