Vanguard Group Inc. cut its holdings in Townsquare Media Inc (NYSE:TSQ) by 11.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 340,567 shares of the company’s stock after selling 42,041 shares during the quarter. Vanguard Group Inc. owned 1.84% of Townsquare Media worth $3,487,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of TSQ. Dimensional Fund Advisors LP boosted its stake in Townsquare Media by 74.5% during the first quarter. Dimensional Fund Advisors LP now owns 132,341 shares of the company’s stock worth $1,612,000 after buying an additional 56,509 shares during the period. Gamco Investors INC. ET AL boosted its stake in Townsquare Media by 28.4% during the second quarter. Gamco Investors INC. ET AL now owns 65,027 shares of the company’s stock worth $666,000 after buying an additional 14,400 shares during the period. JPMorgan Chase & Co. boosted its stake in Townsquare Media by 72.2% during the second quarter. JPMorgan Chase & Co. now owns 100,300 shares of the company’s stock worth $1,027,000 after buying an additional 42,070 shares during the period. Boston Partners boosted its stake in Townsquare Media by 428.1% during the second quarter. Boston Partners now owns 229,702 shares of the company’s stock worth $2,352,000 after buying an additional 186,202 shares during the period. Finally, Prudential Financial Inc. purchased a new position in Townsquare Media during the second quarter worth $135,000. 48.19% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on TSQ. Bank of America lowered shares of Townsquare Media from a “buy” rating to an “underperform” rating in a research note on Friday, September 29th. Zacks Investment Research lowered shares of Townsquare Media from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Noble Financial reaffirmed a “buy” rating on shares of Townsquare Media in a research note on Friday, August 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $12.00 price objective on shares of Townsquare Media in a research note on Friday, October 13th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Townsquare Media in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $11.67.
Townsquare Media Inc (NYSE:TSQ) traded down $0.12 during midday trading on Monday, reaching $7.82. 31,100 shares of the company’s stock traded hands, compared to its average volume of 59,078. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market capitalization of $144.49, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 2.52 and a beta of 1.56. Townsquare Media Inc has a 52 week low of $7.00 and a 52 week high of $13.01.
Townsquare Media (NYSE:TSQ) last released its earnings results on Tuesday, November 7th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.08). Townsquare Media had a return on equity of 5.74% and a net margin of 3.81%. The business had revenue of $164.11 million for the quarter, compared to the consensus estimate of $168.49 million. research analysts anticipate that Townsquare Media Inc will post 0.78 EPS for the current fiscal year.
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Townsquare Media Profile
Townsquare Media, Inc is a media, entertainment and digital marketing solutions company principally focused on small and mid-sized markets across the United States. The Company operates through two segments: Local Advertising and Live Events. The Company’s Local Advertising segment offers broadcast, digital and mobile advertising within its local markets.
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