Townsquare Media (NYSE:TSQ) Given New $12.00 Price Target at Barrington Research
Barrington Research has lowered its price target for Townsquare Media (NYSE:TSQ) from $13.00 to $12.00, maintaining an "outperform" rating. This new target suggests a potential upside of 121.40% from the stock's previous close. Currently, Townsquare Media's stock is rated as a "Moderate Buy" with an average target of $16.50. The stock traded down to $5.42, with a market cap of $89.13 million. Recent insider activity includes a purchase of 10,000 shares by Director Stephen A. Kaplan. Institutional investors hold 71.69% of the stock.
Townsquare Media (NYSE:TSQ - Get Free Report) had its price target lowered by investment analysts at Barrington Research from $13.00 to $12.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Barrington Research's price target would suggest a potential upside of 121.40% from the stock's previous close.
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Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Townsquare Media in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.50.
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Townsquare Media Stock Performance
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Townsquare Media stock traded down $0.69 during midday trading on Monday, reaching $5.42. The stock had a trading volume of 172,565 shares, compared to its average volume of 78,437. The stock's 50-day simple moving average is $6.63 and its 200 day simple moving average is $7.00. Townsquare Media has a twelve month low of $5.27 and a twelve month high of $10.50. The stock has a market capitalization of $89.13 million, a PE ratio of 2.68, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16.
Insiders Place Their Bets
In related news, Director Stephen A. Kaplan bought 10,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $6.92 per share, for a total transaction of $69,200.00. Following the completion of the purchase, the director directly owned 208,618 shares in the company, valued at approximately $1,443,636.56. The trade was a 5.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 30.50% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Townsquare Media
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Townsquare Media in the 2nd quarter valued at approximately $33,000. Hsbc Holdings PLC bought a new position in shares of Townsquare Media in the first quarter worth $86,000. Occudo Quantitative Strategies LP acquired a new position in shares of Townsquare Media during the second quarter valued at $101,000. Ancora Advisors LLC acquired a new position in shares of Townsquare Media during the first quarter valued at $122,000. Finally, Nuveen LLC bought a new stake in shares of Townsquare Media during the first quarter valued at about $138,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.
Townsquare Media Company Profile
(Get Free Report)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.
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