A good quarter does a stock price good.
Townsquare Media reported both net revenue and net income gains during Q4 and for full-year 2016 on Monday, and that led investors to buy shares in TSQ. At the Closing Bell on Wall Street, Townsquare was up a whopping 13.5%, to $11.50. Trading was heavy at 124,000 shares; average volume for Townsquare is roughly 54,500 shares.
Townsquare was the clear mover among media stocks on Monday, with Beasley Broadcast Group rising 15 cents, to $10.30, and Gray Television improving by 30 cents, to $14.40.
Pandora Media gained 26 cents, to $12.39, following the news that its long-awaited premium paid subscription-tier service is set to arrive this week to select users.
Key decliners include Viacom, off 58 cents to $43.15.