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

Townsquare Media, Inc. (NYSE:TSQ)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.43 and traded as low as $6.42. Townsquare Media shares last traded at $6.47, with a volume of 56,360 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on TSQ. Wall Street Zen raised Townsquare Media from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings raised shares of Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 13th. Barrington Research restated an “outperform” rating and set a $10.00 price objective on shares of Townsquare Media in a research report on Monday, May 11th. Finally, Zacks Research cut shares of Townsquare Media from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Townsquare Media currently has a consensus rating of “Reduce” and a consensus price target of $10.00.

Townsquare Media Price Performance

The company has a 50-day simple moving average of $6.61 and a 200-day simple moving average of $6.43. The stock has a market cap of $110.64 million, a PE ratio of -15.05, a PEG ratio of 2.60 and a beta of 1.20.

Townsquare Media (NYSE:TSQ) last released its earnings results on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts expect that Townsquare Media, Inc. will post 0.21 EPS for the current fiscal year.

Townsquare Media Dividend Announcement

The business 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $0.80 dividend on an annualized basis and a yield of 12.4%. Townsquare Media’s payout ratio is currently -186.05%.

Insider Transactions at Townsquare Media

In other Townsquare Media news, COO Erik Hellum sold 35,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total transaction of $225,400.00. Following the transaction, the chief operating officer directly owned 914,542 shares in the company, valued at approximately $5,889,650.48. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Robert L. Worshek sold 34,299 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $6.62, for a total transaction of $227,059.38. Following the completion of the transaction, the chief accounting officer directly owned 142,722 shares of the company’s stock, valued at approximately $944,819.64. This trade represents a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 30.30% of the stock is currently owned by insiders.

Institutional Trading of Townsquare Media

Large investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL increased its holdings 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 valued at $2,088,000 after acquiring an additional 12,300 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Townsquare Media in the first quarter valued at about $129,000. XTX Topco Ltd purchased a new stake in shares of Townsquare Media in the fourth quarter valued at about $83,000. Susquehanna International Group LLP purchased a new stake in shares of Townsquare Media in the third quarter valued at about $144,000. Finally, Algert Global LLC acquired a new stake in shares of Townsquare Media in the third quarter valued at approximately $72,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.