Townsquare Media (NYSE:TSQ) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Townsquare Media's stock crossed above its 50-day moving average ($6.41) on Thursday, trading as high as $6.88 and last at $6.767, with the 200-day average at $5.95.
• The company reported Q EPS of $0.05 versus $0.11 expected, posted negative return on equity and net margin, and carries a sell-side consensus of “Hold” with an average target price of $15.50.
• Townsquare announced a $0.20 quarterly dividend (annualized $0.80) implying a 11.8% yield and a negative payout ratio (-112.68%), while insiders recently sold stock (EVP Scott Schatz and COO Erik Hellum both reduced positions).

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report)'s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty 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 traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSQ. Weiss Ratings reiterated a "sell (d)" rating on shares of Townsquare Media in a report on Monday, December 29th. Barrington Research cut their price target on shares of Townsquare Media from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Townsquare Media has a consensus rating of "Hold" and an average target price of $15.50.

Townsquare Media Stock Up 1.9%

The business's 50-day simple moving average is $6.41 and its two-hundred day simple moving average is $5.95. The firm has a market capitalization of $115.75 million, a price-to-earnings ratio of -9.53, a PEG ratio of 1.44 and a beta of 1.08.

Townsquare Media (NYSE:TSQ - Get Free Report) last issued its quarterly earnings data on Monday, March 16th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.06). Townsquare Media had a negative return on equity of 13.74% and a negative net margin of 2.58%.The company had revenue of $106.50 million during the quarter, compared to analyst estimates of $106.40 million. Sell-side analysts anticipate that Townsquare Media, Inc. will post 1.07 earnings per share for the current year.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Monday, April 27th will be issued 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 -112.68%.

Insider Transactions at Townsquare Media

In related news, EVP Scott Schatz sold 28,980 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $5.08, for a total transaction of $147,218.40. Following the sale, the executive vice president directly owned 123,977 shares of the company's stock, valued at $629,803.16. This represents a 18.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Erik Hellum sold 6,522 shares of the company's stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $5.57, for a total value of $36,327.54. Following the sale, the chief operating officer directly owned 969,648 shares in the company, valued at $5,400,939.36. This represents a 0.67% decrease in their position. The SEC filing for this sale provides additional information. 30.30% of the stock is owned by corporate insiders.

Institutional Trading of Townsquare Media

Hedge funds have recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in Townsquare Media during the 4th quarter worth approximately $26,000. Raymond James Financial Inc. purchased a new stake in shares of Townsquare Media during the 2nd quarter worth $33,000. AlphaCore Capital LLC acquired a new position in shares of Townsquare Media during the third quarter worth $69,000. Algert Global LLC purchased a new position in Townsquare Media in the third quarter valued at $72,000. Finally, XTX Topco Ltd purchased a new position in Townsquare Media in the fourth quarter valued at $83,000. Institutional investors and hedge funds 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.

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