Townsquare Media (NYSE:TSQ) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Townsquare Media, Inc. (NYSE:TSQ)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $5.59 and traded as high as $6.85. Townsquare Media shares last traded at $6.79, with a volume of 162,477 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TSQ shares. Wall Street Zen lowered shares of Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Weiss Ratings restated a “sell (d)” rating on shares of Townsquare Media in a research report on Monday, December 29th. Finally, Barrington Research cut their price objective on shares of Townsquare Media from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Townsquare Media currently has an average rating of “Hold” and a consensus price target of $16.50.

Townsquare Media Price Performance

The company’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $6.13. The firm has a market capitalization of $111.76 million, a PE ratio of 6.59, a P/E/G ratio of 0.88 and a beta of 0.99.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Monday, November 10th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Townsquare Media had a net margin of 4.27% and a negative return on equity of 47.95%. The firm had revenue of $106.76 million during the quarter, compared to the consensus estimate of $107.96 million. Analysts forecast that Townsquare Media, Inc. will post 1.07 earnings per share for the current year.

Insider Activity at Townsquare Media

In related news, COO Erik Hellum sold 6,522 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $5.57, for a total value of $36,327.54. Following the completion of the transaction, the chief operating officer directly owned 969,648 shares of the company’s stock, valued at approximately $5,400,939.36. This represents a 0.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 19,652 shares of company stock worth $106,335 in the last three months. 29.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Townsquare Media

Hedge funds have recently modified their holdings of the business. Access Investment Management LLC purchased a new position in Townsquare Media in the 2nd quarter worth approximately $3,160,000. Truffle Hound Capital LLC acquired a new stake in shares of Townsquare Media in the second quarter valued at approximately $1,186,000. RBF Capital LLC lifted its position in Townsquare Media by 862.7% during the second quarter. RBF Capital LLC now owns 422,931 shares of the company’s stock worth $3,345,000 after buying an additional 379,000 shares in the last quarter. American Century Companies Inc. lifted its position in Townsquare Media by 18.0% during the second quarter. American Century Companies Inc. now owns 856,651 shares of the company’s stock worth $6,776,000 after buying an additional 130,537 shares in the last quarter. Finally, Corton Capital Inc. acquired a new position in Townsquare Media during the second quarter worth $227,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.

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.