Townsquare Media (NYSE:TSQ) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Townsquare Media, Inc. (NYSE:TSQ)’s share 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 trading hands.

Analysts Set New Price Targets

TSQ has been the subject of a number of recent analyst reports. Barrington Research lowered their target price on shares of Townsquare Media from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. Weiss Ratings restated a “sell (d)” rating on shares of Townsquare Media in a research note on Monday, December 29th. Two investment 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, the stock currently has an average rating of “Hold” and a consensus target price of $15.50.

Townsquare Media Stock Performance

The firm’s 50 day moving average is $6.51 and its 200-day moving average is $6.01. The stock has a market capitalization of $91.40 million, a price-to-earnings ratio of -7.53, a PEG ratio of 1.06 and a beta of 0.96.

Townsquare Media (NYSE:TSQ) last posted its earnings results on Monday, March 16th. The company reported $0.05 earnings per share (EPS) 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 firm had revenue of $106.50 million for the quarter, compared to analysts’ expectations of $106.40 million. As a group, sell-side analysts forecast that Townsquare Media, Inc. will post 1.07 earnings per share for the current year.

Townsquare Media Dividend Announcement

The firm 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 15.0%. The ex-dividend date of this dividend is Monday, April 27th. Townsquare Media’s dividend payout ratio is currently -112.68%.

Insider Buying and Selling

In other Townsquare Media news, COO Erik Hellum sold 6,522 shares of the company’s 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 sale, the chief operating officer directly owned 969,648 shares in the company, valued at $5,400,939.36. This represents a 0.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Schatz sold 28,980 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $5.08, for a total transaction of $147,218.40. Following the completion of the sale, the executive vice president directly owned 123,977 shares of the company’s stock, valued at $629,803.16. This represents a 18.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,939 shares of company stock valued at $224,747 over the last 90 days. Company insiders own 29.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in shares of Townsquare Media in the fourth quarter worth $83,000. CastleKnight Management LP acquired a new stake in shares of Townsquare Media in the fourth quarter valued at $209,000. Marshall Wace LLP raised its stake in shares of Townsquare Media by 6.3% in the fourth quarter. Marshall Wace LLP now owns 37,953 shares of the company’s stock valued at $195,000 after acquiring an additional 2,256 shares in the last quarter. Beck Mack & Oliver LLC boosted its holdings in Townsquare Media by 8.6% in the fourth quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock valued at $5,518,000 after purchasing an additional 85,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Townsquare Media by 16.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 95,972 shares of the company’s stock valued at $493,000 after purchasing an additional 13,373 shares during the period. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

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.