Townsquare Media (NYSE:TSQ) Shares Cross Above 50-Day Moving Average – What’s Next?

Townsquare Media, Inc. (NYSE:TSQ) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.41 and traded as high as $6.88. Townsquare Media shares last traded at $6.7670, with a volume of 77,031 shares.

Analysts Set New Price Targets

A number of research firms have recently commented on TSQ. Weiss Ratings reiterated a “sell (d)” rating on shares of Townsquare Media in a report on Monday, December 29th. Barrington Research decreased their target price on Townsquare Media from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.50.

Townsquare Media Trading Up 1.9%

The stock has a market capitalization of $115.75 million, a price-to-earnings ratio of -9.53, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. The company’s 50 day moving average is $6.41 and its 200 day moving average is $5.95.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings data 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 net margin of 2.58% and a negative return on equity of 13.74%. The company had revenue of $106.50 million during the quarter, compared to analyst estimates of $106.40 million. Analysts anticipate that Townsquare Media, Inc. will post 1.07 EPS for the current fiscal year.

Townsquare Media Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 11.8%. The ex-dividend date is Monday, April 27th. Townsquare Media’s dividend payout ratio (DPR) is currently -112.68%.

Insider Buying and Selling

In other Townsquare Media news, COO Erik Hellum sold 6,522 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $5.57, for a total transaction of $36,327.54. Following the transaction, the chief operating officer directly owned 969,648 shares of the company’s stock, valued at approximately $5,400,939.36. This trade represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott Schatz sold 28,980 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $5.08, for a total value of $147,218.40. Following the completion of the transaction, the executive vice president owned 123,977 shares in the company, valued at $629,803.16. This trade represents a 18.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 30.30% of the company’s stock.

Institutional Trading of Townsquare Media

Several hedge funds have recently modified their holdings of TSQ. XTX Topco Ltd purchased a new position in shares of Townsquare Media in the 4th quarter valued at about $83,000. CastleKnight Management LP purchased a new position in Townsquare Media in the fourth quarter valued at about $209,000. Marshall Wace LLP lifted its position in shares of Townsquare Media by 6.3% during the 4th 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 during the period. Beck Mack & Oliver LLC boosted its stake in shares of Townsquare Media by 8.6% during the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock worth $5,518,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Townsquare Media by 16.2% in the 4th 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 in the last quarter. 71.69% of the stock is 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.