Townsquare Media (NYSE:TSQ) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Townsquare Media, Inc. (NYSE:TSQ)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.01 and traded as low as $4.98. Townsquare Media shares last traded at $5.3450, with a volume of 216,745 shares changing hands.

Analysts Set New Price Targets

Several research firms have issued reports on TSQ. Weiss Ratings reiterated a “sell (d)” rating on shares of Townsquare Media in a research report on Monday, December 29th. Barrington Research decreased their price target on Townsquare Media from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.50.

Townsquare Media Price Performance

The company’s 50 day moving average is $6.50 and its 200 day moving average is $6.01. The stock has a market cap of $96.96 million, a price-to-earnings ratio of -7.99, a PEG ratio of 1.18 and a beta of 1.08.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Monday, March 16th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). Townsquare Media had a negative return on equity of 13.74% and a negative net margin of 2.58%.The company had revenue of $106.50 million for the quarter, compared to analyst estimates of $106.40 million. Sell-side analysts predict that Townsquare Media, Inc. will post 1.07 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, May 4th. Investors of record on Monday, April 27th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 14.1%. The ex-dividend date of this dividend is Monday, April 27th. Townsquare Media’s dividend payout ratio (DPR) is presently -112.68%.

Insider Buying and Selling at Townsquare Media

In other Townsquare Media news, EVP Scott Schatz sold 28,980 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $5.08, for a total transaction of $147,218.40. Following the sale, the executive vice president directly owned 123,977 shares in the company, valued at approximately $629,803.16. The trade was a 18.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Erik Hellum sold 7,437 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $5.54, for a total value of $41,200.98. Following the completion of the transaction, the chief operating officer owned 1,029,150 shares of the company’s stock, valued at approximately $5,701,491. This represents a 0.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 42,939 shares of company stock valued at $224,747. 30.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds have recently added to or reduced their stakes in TSQ. Crews Bank & Trust acquired a new position in Townsquare Media during the fourth quarter worth about $26,000. Raymond James Financial Inc. acquired a new stake in shares of Townsquare Media in the second quarter valued at approximately $33,000. AlphaCore Capital LLC purchased a new position in shares of Townsquare Media during the 3rd quarter worth approximately $69,000. Algert Global LLC acquired a new position in shares of Townsquare Media during the 3rd quarter worth approximately $72,000. Finally, XTX Topco Ltd acquired a new position in shares of Townsquare Media during the 4th quarter worth approximately $83,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

About Townsquare Media

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.