Is Townsquare Media Inc (TSQ) Worthy of Your Portfolio?

On the other hand, some funds dumped their positions entirely during the third quarter. Interestingly, Mark Coe’s Coe Capital Management dumped the largest investment of the 700 funds tracked by Insider Monkey, totaling about $1.2 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund sold off about $0.1 million worth of shares.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Townsquare Media Inc (NYSE:TSQ) but similarly valued. We will take a look at Global Medical REIT Inc (NYSE:GMRE), TriplePoint Venture Growth BDC Corp (NYSE:TPVG), Consolidated Water Co. Ltd. (NASDAQ:CWCO), and KCAP Financial Inc (NASDAQ:KCAP). This group of stocks’ market valuations are similar to TSQ’s market valuation.

As you can see these stocks had an average of just five funds with bullish positions and the average amount invested in these stocks was $7 million. That figure was $41 million in TSQ’s case. Global Medical REIT Inc (NYSE:GMRE) and and KCAP Financial Inc (NASDAQ:KCAP) are the most popular stocks in this table. On the other hand Consolidated Water Co. Ltd. (NASDAQ:CWCO) is the least popular one with only three bullish hedge fund positions. Compared to these stocks Townsquare Media Inc (NYSE:TSQ) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none