Townsquare Media (NYSE:TSQ) Share Price Crosses Below 200 Day Moving Average - Here's What Happened

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.57 and traded as low as $6.54. Townsquare Media shares last traded at $6.77, with a volume of 47,341 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Noble Financial reissued a "buy" rating and issued a $21.00 price target on shares of Townsquare Media in a research note on Friday, May 9th. Barrington Research reduced their price target on Townsquare Media from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, Wall Street Zen cut Townsquare Media from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th.

Townsquare Media Price Performance

The firm's 50-day simple moving average is $7.15 and its 200 day simple moving average is $8.50. The firm has a market capitalization of $108.87 million, a price-to-earnings ratio of -2.49, a P/E/G ratio of 0.58 and a beta of 1.08.

Townsquare Media (NYSE:TSQ - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. The company had revenue of $98.68 million for the quarter, compared to analysts' expectations of $98.50 million. As a group, research analysts predict that Townsquare Media, Inc. will post 1.07 earnings per share for the current year.

Townsquare Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 11.84%. The ex-dividend date is Friday, July 18th. Townsquare Media's dividend payout ratio (DPR) is presently -60.15%.

Institutional Trading of Townsquare Media

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC increased its position in shares of Townsquare Media by 5.2% during the fourth quarter. Empowered Funds LLC now owns 56,634 shares of the company's stock valued at $515,000 after buying an additional 2,804 shares during the period. Access Investment Management LLC lifted its position in Townsquare Media by 0.5% during the fourth quarter. Access Investment Management LLC now owns 398,450 shares of the company's stock valued at $3,622,000 after purchasing an additional 1,985 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Townsquare Media by 8.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 40,730 shares of the company's stock worth $370,000 after purchasing an additional 3,319 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in Townsquare Media during the fourth quarter valued at $69,000. Finally, American Century Companies Inc. grew its stake in Townsquare Media by 1.3% during the fourth quarter. American Century Companies Inc. now owns 699,787 shares of the company's stock valued at $6,361,000 after acquiring an additional 9,292 shares in the last quarter. 71.69% of the stock is owned by institutional investors.

Townsquare Media Company Profile

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.