Townsquare Media (NYSE:TSQ) Share Price Passes Below 200-Day Moving Average - Here's Why

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) crossed 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.

Analyst Upgrades and Downgrades

TSQ has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Townsquare Media from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Barrington Research cut their target price on Townsquare Media from $15.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, Noble Financial restated a "buy" rating and issued a $21.00 price target on shares of Townsquare Media in a research note on Friday, May 9th.

Townsquare Media Trading Up 0.4%

The stock's 50 day moving average price is $7.19 and its two-hundred day moving average price is $8.53. The firm has a market capitalization of $109.56 million, a price-to-earnings ratio of -2.51, a PEG ratio of 0.58 and a beta of 1.08.

Townsquare Media (NYSE:TSQ - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. The firm had revenue of $98.68 million for the quarter, compared to the consensus estimate of $98.50 million. On average, sell-side analysts forecast that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 11.77%. The ex-dividend date of this dividend is Friday, July 18th. Townsquare Media's dividend payout ratio is currently -60.15%.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Townsquare Media in the fourth quarter valued at $369,000. Russell Investments Group Ltd. grew its stake in Townsquare Media by 1,086.0% in the 4th 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. Wealthfront Advisers LLC purchased a new position in Townsquare Media during the 4th quarter valued at about $69,000. Empowered Funds LLC raised its position in Townsquare Media by 5.2% during the fourth quarter. Empowered Funds LLC now owns 56,634 shares of the company's stock worth $515,000 after acquiring an additional 2,804 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Townsquare Media by 47.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 27,200 shares of the company's stock worth $247,000 after acquiring an additional 8,700 shares during the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.

About Townsquare Media

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.