Townsquare Media, Inc. (NYSE:TSQ - Get Free Report)'s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.17 and traded as low as $6.91. Townsquare Media shares last traded at $7.08, with a volume of 64,266 shares changing hands.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Wall Street Zen downgraded Townsquare Media from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Noble Financial reissued a "buy" rating and issued a $21.00 target price on shares of Townsquare Media in a report on Friday, May 9th. Finally, Barrington Research lowered their target price on Townsquare Media from $15.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, May 9th.
Read Our Latest Research Report on Townsquare Media
Townsquare Media Price Performance
The business has a 50-day simple moving average of $6.94 and a 200 day simple moving average of $8.17. The firm has a market cap of $115.69 million, a PE ratio of -5.32, a PEG ratio of 1.28 and a beta of 1.11.
Townsquare Media (NYSE:TSQ - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). The business had revenue of $98.68 million during the quarter, compared to analysts' expectations of $98.50 million. Townsquare Media had a negative return on equity of 41.58% and a negative net margin of 3.41%. On average, equities analysts forecast that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.
Townsquare Media Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 11.31%. The ex-dividend date is Friday, July 18th. Townsquare Media's payout ratio is -60.15%.
Insiders Place Their Bets
In related news, COO Erik Hellum sold 4,591 shares of Townsquare Media stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $7.08, for a total transaction of $32,504.28. Following the sale, the chief operating officer now owns 733,948 shares of the company's stock, valued at approximately $5,196,351.84. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 27,968 shares of company stock worth $199,646 over the last quarter. 30.50% of the stock is currently owned by corporate insiders.
Institutional Trading of Townsquare Media
Several institutional investors and hedge funds have recently added to or reduced their stakes in TSQ. Copeland Capital Management LLC raised its stake in Townsquare Media by 73.4% during the 1st quarter. Copeland Capital Management LLC now owns 6,753 shares of the company's stock valued at $55,000 after purchasing an additional 2,859 shares during the period. Wells Fargo & Company MN raised its stake in Townsquare Media by 56.0% during the 4th quarter. Wells Fargo & Company MN now owns 6,296 shares of the company's stock valued at $57,000 after purchasing an additional 2,259 shares during the period. Wealthfront Advisers LLC bought a new stake in Townsquare Media during the 4th quarter valued at approximately $69,000. Russell Investments Group Ltd. raised its stake in Townsquare Media by 1,086.0% during the 4th quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company's stock valued at $76,000 after purchasing an additional 7,700 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Townsquare Media during the 1st quarter valued at approximately $86,000. Institutional investors own 71.69% of the company's stock.
Townsquare Media Company Profile
(
Get Free Report)
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.
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