Tuesday, January 26, 2021
Townsquare Media Inc (TSQ)
Raising The Price Target Again. What Is The Excitement About?
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.
Refer to the full report for the price target, fundamental analysis, and rating.
NobleCon 17 highlights. This report highlights a presentation made by Bill Wilson, the CEO, and an informative Q&A session. A rebroadcast of the presentation may be obtained by clicking here. The presentation touched on the following topics: favorable momentum for its Digital businesses, expanding its Digital footprint (opening a West Coast office), improving Broadcast advertising trends, utilizing its Charlotte sales team to sell Ignite, and ability to ramp its Entertainment business, post Covid.
Removes stock overhang. The company recently announced an agreement to purchase 12.5 million of its shares from Oaktree Capital Management at $6.40 per share, by purchasing at least 10 million shares now and the remainder 15 months following the closing of the repurchase. Oaktree needed to sell the shares given that its holdings were beyond the fund’s life. As such, the repurchase represents …
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.