Wednesday, April 27, 2022

Townsquare Media (TSQ)
A Mispriced Stock?

Townsquare Media Inc is an entertainment and media company offering digital marketing solutions in the United States and Canada. It owns and operates radio stations, social media properties focusing the small and mid-cap companies. Services offered to the clients include live events, local advertising, digital advertising, e-commerce offerings, few others. The segments through which the company operates its businesses are classified into Local marketing solutions and Entertainment segments. Revenues are generated from commercials through broadcasts and sale of internet based advertisements.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noblecon 18 highlights. Townsquare CFO, Bill Wilson, presented at Noblecon18, speaking on a range of topics such as, the company’s evolution from a pure-play broadcaster to a digital-first company, the competitive advantages to bringing a scaled operation to small markets, and the organic nature of digital revenue growth. The full replay of the presentation can be found here.

Fast-growing digital.  Mr. Wilson highlighted the robust growth of the company’s Digital businesses, noting that digital advertising is the fastest growing segment of the business, growing 20.5% in 2021. The company’s digital marketing solutions business has also experienced impressive growth with record net subscriber additions in both 2020 and 2021 …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.