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

Shares of Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $7.14 and traded as high as $8.33. Townsquare Media shares last traded at $7.98, with a volume of 105,695 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TSQ shares. Barrington Research decreased their target price on Townsquare Media from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Noble Financial restated a "buy" rating and set a $21.00 price target on shares of Townsquare Media in a research report on Friday, May 9th. Finally, Wall Street Zen lowered shares of Townsquare Media from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th.

Townsquare Media Stock Down 3.5%

The firm has a market capitalization of $130.47 million, a PE ratio of -6.00, a P/E/G ratio of 1.50 and a beta of 1.13. The stock has a 50-day simple moving average of $7.14 and a 200-day simple moving average of $7.96.

Townsquare Media (NYSE:TSQ - Get Free Report) last announced 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). The company had revenue of $98.68 million during the quarter, compared to analyst estimates of $98.50 million. Townsquare Media had a negative return on equity of 41.58% and a negative net margin of 3.41%. Equities analysts forecast that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.03%. The ex-dividend date is Friday, July 18th. Townsquare Media's payout ratio is currently -60.15%.

Insider Buying and Selling

In other Townsquare Media news, COO Erik Hellum sold 17,305 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $7.00, for a total transaction of $121,135.00. Following the sale, the chief operating officer owned 741,643 shares of the company's stock, valued at $5,191,501. The trade was a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 35,000 shares of company stock valued at $246,267. 29.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds have recently made changes to their positions in TSQ. Charles Schwab Investment Management Inc. boosted its stake in Townsquare Media by 8.9% in the 4th 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 during the period. Wealthfront Advisers LLC bought a new stake in shares of Townsquare Media during the fourth quarter valued at about $69,000. American Century Companies Inc. lifted its holdings in shares of Townsquare Media by 1.3% in the fourth quarter. American Century Companies Inc. now owns 699,787 shares of the company's stock worth $6,361,000 after buying an additional 9,292 shares in the last quarter. Sei Investments Co. boosted its position in shares of Townsquare Media by 2.1% in the fourth quarter. Sei Investments Co. now owns 72,426 shares of the company's stock valued at $658,000 after acquiring an additional 1,513 shares during the period. Finally, Hillsdale Investment Management Inc. grew its stake in Townsquare Media by 47.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 27,200 shares of the company's stock valued at $247,000 after acquiring an additional 8,700 shares in the last quarter. 71.69% of the stock is currently owned by hedge funds and other 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.

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