Townsquare Media, Inc. (NYSE:TSQ) – Equities researchers at Barrington Research increased their FY2021 earnings per share (EPS) estimates for shares of Townsquare Media in a note issued to investors on Wednesday, May 12th. Barrington Research analyst J. Goss now forecasts that the company will post earnings of $1.30 per share for the year, up from their previous estimate of $1.15. Barrington Research currently has a “Outperform” rating and a $15.00 price target on the stock. Barrington Research also issued estimates for Townsquare Media’s Q4 2021 earnings at $0.40 EPS, Q1 2022 earnings at $0.29 EPS, Q3 2022 earnings at $0.39 EPS, Q4 2022 earnings at $0.61 EPS, FY2022 earnings at $1.90 EPS and FY2023 earnings at $2.14 EPS.
Separately, Zacks Investment Research upgraded Townsquare Media from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday.
Townsquare Media (NYSE:TSQ) last issued its quarterly earnings data on Monday, May 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. Townsquare Media had a negative return on equity of 64.93% and a negative net margin of 43.84%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP increased its holdings in shares of Townsquare Media by 88.6% in the fourth quarter. Susquehanna International Group LLP now owns 39,505 shares of the company’s stock valued at $263,000 after buying an additional 18,559 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Townsquare Media by 4.0% in the fourth quarter. Renaissance Technologies LLC now owns 593,506 shares of the company’s stock valued at $3,953,000 after buying an additional 22,554 shares in the last quarter. Ancora Advisors LLC bought a new position in shares of Townsquare Media in the fourth quarter valued at $215,000. Hillsdale Investment Management Inc. bought a new position in shares of Townsquare Media in the first quarter valued at $2,820,000. Finally, Eidelman Virant Capital acquired a new stake in Townsquare Media during the 1st quarter valued at $1,184,000. 44.72% of the stock is currently owned by institutional investors.
In other Townsquare Media news, Director David Quick sold 1,595,224 shares of the company’s stock in a transaction that occurred on Tuesday, March 9th. The stock was sold at an average price of $6.40, for a total value of $10,209,433.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 24.80% of the company’s stock.
Townsquare Media Company Profile
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. It operates through Advertising, Townsquare Interactive, and Live Events segments. The company provides advertising and marketing solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications; and digital advertising services, as well as operates Townsquare Ignite, a digital programmatic advertising platform.
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