Townsquare Media (NYSE:TSQ) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Shares of Townsquare Media, Inc. (NYSE:TSQ) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.89 and traded as low as $9.95. Townsquare Media shares last traded at $9.99, with a volume of 11,865 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com lowered Townsquare Media from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Barrington Research restated an “outperform” rating and issued a $17.00 price objective on shares of Townsquare Media in a report on Monday, August 12th.

Townsquare Media Stock Down 0.2 %

The firm has a market capitalization of $150.55 million, a price-to-earnings ratio of -1.74, a P/E/G ratio of 0.86 and a beta of 1.35. The business has a 50 day simple moving average of $10.18 and a 200-day simple moving average of $10.88. The company has a debt-to-equity ratio of 271.80, a quick ratio of 1.36 and a current ratio of 1.36.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.28). The company had revenue of $118.23 million during the quarter, compared to analyst estimates of $117.99 million. Townsquare Media had a negative return on equity of 171.57% and a negative net margin of 19.53%. On average, equities analysts expect that Townsquare Media, Inc. will post 0.97 EPS for the current year.

Townsquare Media Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date is Tuesday, October 15th. Townsquare Media’s payout ratio is -14.08%.

Insider Buying and Selling

In related news, COO Erik Hellum sold 9,223 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $10.30, for a total transaction of $94,996.90. Following the completion of the transaction, the chief operating officer now directly owns 607,680 shares in the company, valued at $6,259,104. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Erik Hellum sold 9,223 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $10.30, for a total transaction of $94,996.90. Following the completion of the transaction, the chief operating officer now directly owns 607,680 shares in the company, valued at $6,259,104. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen A. Kaplan bought 50,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average price of $10.41 per share, with a total value of $520,500.00. Following the completion of the acquisition, the director now directly owns 137,808 shares in the company, valued at $1,434,581.28. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 28,585 shares of company stock valued at $289,812. 30.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds and other institutional investors have recently made changes to their positions in TSQ. Copeland Capital Management LLC purchased a new position in shares of Townsquare Media in the 3rd quarter valued at about $39,000. Meeder Asset Management Inc. purchased a new stake in Townsquare Media during the second quarter worth approximately $57,000. Virtu Financial LLC purchased a new stake in Townsquare Media during the first quarter worth approximately $124,000. Rhumbline Advisers lifted its stake in Townsquare Media by 24.4% during the second quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock worth $139,000 after purchasing an additional 2,481 shares during the last quarter. Finally, Privium Fund Management UK Ltd purchased a new stake in Townsquare Media during the second quarter worth approximately $232,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

About Townsquare Media

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.