Townsquare Media (NYSE:TSQ) Shares Pass Above 50-Day Moving Average of $11.10

Townsquare Media, Inc. (NYSE:TSQ) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.10 and traded as high as $12.43. Townsquare Media shares last traded at $11.92, with a volume of 49,872 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TSQ shares. Guggenheim increased their price target on shares of Townsquare Media from $12.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, March 20th. StockNews.com downgraded shares of Townsquare Media from a “buy” rating to a “hold” rating in a report on Saturday, April 6th. Noble Financial increased their price target on shares of Townsquare Media from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Finally, Barrington Research reiterated an “outperform” rating and issued a $17.00 price target on shares of Townsquare Media in a report on Tuesday, April 2nd.

Townsquare Media Trading Down 3.2 %

The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 50.41. The company has a 50-day simple moving average of $11.10 and a 200 day simple moving average of $10.26. The firm has a market cap of $198.23 million, a PE ratio of -4.35, a price-to-earnings-growth ratio of 0.67 and a beta of 1.37.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings data on Friday, March 15th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. Townsquare Media had a positive return on equity of 55.40% and a negative net margin of 9.90%. The business had revenue of $114.79 million for the quarter, compared to analyst estimates of $111.78 million. As a group, sell-side analysts forecast that Townsquare Media, Inc. will post 1.54 earnings per share for the current fiscal year.

Townsquare Media Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a $0.198 dividend. This represents a $0.79 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from Townsquare Media’s previous quarterly dividend of $0.19. Townsquare Media’s dividend payout ratio is currently -28.83%.

Insiders Place Their Bets

In other Townsquare Media news, Chairman Steven Price sold 1,565,681 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $12.36, for a total value of $19,351,817.16. Following the sale, the chairman now owns 897,115 shares in the company, valued at approximately $11,088,341.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Chairman Steven Price sold 1,565,681 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $12.36, for a total transaction of $19,351,817.16. Following the transaction, the chairman now owns 897,115 shares in the company, valued at approximately $11,088,341.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Erik Hellum sold 5,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $10.95, for a total value of $54,750.00. Following the transaction, the chief operating officer now owns 718,222 shares in the company, valued at approximately $7,864,530.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,886,934 shares of company stock worth $35,653,276. Corporate insiders own 34.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new position in Townsquare Media in the 3rd quarter valued at $140,000. Gabelli Funds LLC increased its stake in shares of Townsquare Media by 86.1% in the 3rd quarter. Gabelli Funds LLC now owns 59,000 shares of the company’s stock worth $514,000 after acquiring an additional 27,300 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Townsquare Media by 24.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 33,039 shares of the company’s stock worth $288,000 after acquiring an additional 6,553 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Townsquare Media by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 818,235 shares of the company’s stock worth $7,135,000 after acquiring an additional 2,504 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Townsquare Media by 57.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 29,552 shares of the company’s stock worth $312,000 after acquiring an additional 10,762 shares during the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.

Townsquare Media Company Profile

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.