Townsquare Media (NYSE:TSQ) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Townsquare Media, Inc. (NYSE:TSQ)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.32 and traded as high as $6.60. Townsquare Media shares last traded at $6.47, with a volume of 18,268 shares.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSQ shares. Weiss Ratings cut Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Wall Street Zen raised Townsquare Media from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Townsquare Media in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

Townsquare Media Stock Performance

The company has a 50 day moving average price of $6.32 and a 200 day moving average price of $6.03. The firm has a market cap of $110.64 million, a price-to-earnings ratio of -15.05, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. The business had revenue of $96.10 million during the quarter, compared to analyst estimates of $96.46 million. On average, research analysts forecast that Townsquare Media, Inc. will post 0.39 earnings per share for the current year.

Townsquare Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 27th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 12.4%. The ex-dividend date is Monday, July 27th. Townsquare Media’s payout ratio is currently -186.05%.

Insider Buying and Selling at Townsquare Media

In other Townsquare Media news, CAO Robert L. Worshek sold 34,299 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $6.62, for a total transaction of $227,059.38. Following the sale, the chief accounting officer owned 142,722 shares in the company, valued at $944,819.64. This represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Schatz sold 28,980 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $5.08, for a total value of $147,218.40. Following the sale, the executive vice president owned 123,977 shares in the company, valued at approximately $629,803.16. This trade represents a 18.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 30.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Gabelli Funds LLC increased its holdings in shares of Townsquare Media by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 63,300 shares of the company’s stock valued at $344,000 after acquiring an additional 2,300 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in Townsquare Media by 3.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock worth $2,088,000 after buying an additional 12,300 shares during the last quarter. Cetera Investment Advisers purchased a new position in Townsquare Media during the 1st quarter worth approximately $129,000. Janney Montgomery Scott LLC grew its stake in shares of Townsquare Media by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock valued at $249,000 after purchasing an additional 2,319 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Townsquare Media in the 1st quarter valued at approximately $158,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Townsquare Media Company Profile

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.