Townsquare Media (NYSE:TSQ) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Townsquare Media, Inc. (NYSE:TSQ)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.32 and traded as high as $6.60. Townsquare Media shares last traded at $6.47, with a volume of 18,268 shares changing hands.

Wall Street Analysts Forecast Growth

TSQ has been the topic of a number of research reports. Barrington Research restated an “outperform” rating and set a $10.00 target price on shares of Townsquare Media in a report on Monday, May 11th. Wall Street Zen raised Townsquare Media from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.00.

Townsquare Media Trading Down 1.1%

The firm has a market capitalization of $110.64 million, a P/E ratio of -15.05, a P/E/G ratio of 1.40 and a beta of 1.21. The company has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $6.03.

Townsquare Media (NYSE:TSQ) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $96.46 million. Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%. On average, sell-side analysts expect that Townsquare Media, Inc. will post 0.39 EPS for the current fiscal year.

Townsquare Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 27th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 12.4%. The ex-dividend date of this dividend is Monday, July 27th. Townsquare Media’s dividend payout ratio is -186.05%.

Insider Buying and Selling at Townsquare Media

In related news, EVP Scott Schatz sold 28,980 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $5.08, for a total transaction of $147,218.40. Following the sale, the executive vice president owned 123,977 shares in the company, valued at approximately $629,803.16. This represents a 18.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Robert L. Worshek sold 34,299 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $6.62, for a total value of $227,059.38. Following the sale, the chief accounting officer owned 142,722 shares in the company, valued at $944,819.64. The trade was a 19.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 30.30% of the company’s stock.

Institutional Trading of Townsquare Media

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gabelli Funds LLC increased its stake in Townsquare Media by 3.8% in the first quarter. Gabelli Funds LLC now owns 63,300 shares of the company’s stock worth $344,000 after purchasing an additional 2,300 shares during the period. Gamco Investors INC. ET AL raised its stake in Townsquare Media by 3.3% in the first quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock valued at $2,088,000 after buying an additional 12,300 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Townsquare Media in the first quarter valued at about $129,000. Janney Montgomery Scott LLC raised its stake in Townsquare Media by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock valued at $249,000 after buying an additional 2,319 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Townsquare Media in the first quarter worth about $158,000. Hedge funds and other institutional investors 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.