On a day with plenty of downbeat news and stock market declines involving media companies, Townsquare Media was a shining star on Wall Street.
Shares climbed 5.5% to $6.17 on Friday after the company bested analysts’ estimates on both revenue and earnings.
The jump puts the company led by Bill Wilson (pictured) back toward its year-to-date high of $6.24, and on a renewed path to achieving a new 52-week high.
That is $9.27, and came around Labor Day 2019.
Following that peak, TSQ shares sank, reaching $4.04 on Christmas Eve 2018.
Since then, Townsquare has found its comfort zone, avoiding steep declines as those seen by Entercom Communications and Beasley Media Group.
Beasley finished Friday’s trading at $3.48 per share; ETM is at $3.54 going in to Monday’s Opening Bell.
