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 TSQ shares. Barrington Research cut their target price on shares of Townsquare Media from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Wall Street Zen cut Townsquare Media from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Noble Financial reaffirmed a "buy" rating and issued a $21.00 target price on shares of Townsquare Media in a report on Friday, May 9th.
Check Out Our Latest Analysis on Townsquare Media
Townsquare Media Stock Performance
The company's 50 day moving average is $6.95 and its 200 day moving average is $8.10. The stock has a market capitalization of $120.17 million, a price-to-earnings ratio of -5.53, a PEG ratio of 1.29 and a beta of 1.11.
Townsquare Media (NYSE:TSQ - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). Townsquare Media had a negative net margin of 3.41% and a negative return on equity of 41.58%. The business had revenue of $98.68 million during the quarter, compared to analyst estimates of $98.50 million. On average, equities research analysts anticipate that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.
Townsquare Media Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 10.88%. The ex-dividend date of this dividend is Friday, July 18th. Townsquare Media's payout ratio is presently -60.15%.
Insider Activity
In related news, COO Erik Hellum sold 17,305 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $7.00, for a total value of $121,135.00. Following the sale, the chief operating officer now owns 741,643 shares of the company's stock, valued at $5,191,501. The trade was a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 27,968 shares of company stock worth $199,646. Company insiders own 29.20% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSQ. Copeland Capital Management LLC grew its holdings in shares of Townsquare Media by 73.4% in the 1st quarter. Copeland Capital Management LLC now owns 6,753 shares of the company's stock worth $55,000 after purchasing an additional 2,859 shares during the last quarter. Wells Fargo & Company MN grew its stake in Townsquare Media by 56.0% during the fourth quarter. Wells Fargo & Company MN now owns 6,296 shares of the company's stock worth $57,000 after buying an additional 2,259 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Townsquare Media during the fourth quarter worth approximately $69,000. Russell Investments Group Ltd. raised its stake in shares of Townsquare Media by 1,086.0% in the fourth quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company's stock valued at $76,000 after acquiring an additional 7,700 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Townsquare Media in the first quarter valued at approximately $86,000. Institutional investors own 71.69% of the company's stock.
About Townsquare Media
(
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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