StockNews.com Downgrades Townsquare Media (NYSE:TSQ) to Hold

Townsquare Media (NYSE:TSQ) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other research analysts also recently issued research reports about the company. Noble Financial reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Townsquare Media in a research note on Friday, January 24th. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Townsquare Media in a research report on Tuesday.

Townsquare Media Price Performance

Shares of TSQ traded down $0.08 during midday trading on Wednesday, hitting $7.97. 173,838 shares of the company traded hands, compared to its average volume of 56,708. The stock has a 50-day moving average of $8.72 and a 200-day moving average of $9.54. Townsquare Media has a one year low of $7.56 and a one year high of $13.57. The firm has a market cap of $123.83 million, a P/E ratio of -2.94, a PEG ratio of 0.58 and a beta of 1.33.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Monday, March 17th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The business had revenue of $117.81 million during the quarter, compared to analyst estimates of $116.41 million. Townsquare Media had a negative return on equity of 57.10% and a negative net margin of 8.84%. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Sell-side analysts forecast that Townsquare Media will post 1.07 EPS for the current fiscal year.

Insider Transactions at Townsquare Media

In other news, EVP Scott Schatz sold 4,594 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $9.65, for a total transaction of $44,332.10. Following the completion of the sale, the executive vice president now directly owns 31,366 shares in the company, valued at $302,681.90. This trade represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claire Marie Yenicay sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $9.65, for a total value of $48,250.00. Following the sale, the executive vice president now owns 207,393 shares of the company’s stock, valued at $2,001,342.45. This represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,594 shares of company stock valued at $186,882. 30.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Townsquare Media

A number of hedge funds have recently made changes to their positions in TSQ. Geode Capital Management LLC increased its holdings in Townsquare Media by 0.4% in the third quarter. Geode Capital Management LLC now owns 278,985 shares of the company’s stock worth $2,835,000 after buying an additional 1,151 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Townsquare Media by 28.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,698 shares of the company’s stock valued at $68,000 after buying an additional 1,503 shares during the last quarter. Sei Investments Co. grew its position in Townsquare Media by 2.1% in the 4th quarter. Sei Investments Co. now owns 72,426 shares of the company’s stock worth $658,000 after purchasing an additional 1,513 shares during the last quarter. Access Investment Management LLC increased its holdings in shares of Townsquare Media by 0.5% during the 4th quarter. Access Investment Management LLC now owns 398,450 shares of the company’s stock worth $3,622,000 after purchasing an additional 1,985 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Townsquare Media by 56.0% during the 4th quarter. Wells Fargo & Company MN now owns 6,296 shares of the company’s stock worth $57,000 after purchasing an additional 2,259 shares during the period. Institutional investors own 71.69% of the company’s stock.

About Townsquare Media

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.