Townsquare Media (NYSE:TSQ) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Shares of Townsquare Media, Inc. (NYSE:TSQ) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.32 and traded as high as $6.60. Townsquare Media shares last traded at $6.47, with a volume of 18,268 shares trading hands.

Analysts Set New Price Targets

TSQ has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. Barrington Research reiterated an “outperform” rating and issued a $10.00 target price on shares of Townsquare Media in a report on Monday, May 11th. Finally, Wall Street Zen upgraded Townsquare Media from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.00.

Townsquare Media Trading Down 1.1%

The company has a market capitalization of $110.64 million, a P/E ratio of -15.05, a PEG ratio of 1.38 and a beta of 1.21. The business has a 50 day moving average price of $6.32 and a 200 day moving average price of $6.03.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. The company had revenue of $96.10 million during the quarter, compared to analyst estimates of $96.46 million. On average, analysts forecast that Townsquare Media, Inc. will post 0.39 EPS for the current fiscal year.

Townsquare Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 27th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $0.80 annualized dividend and a yield of 12.4%. Townsquare Media’s dividend payout ratio (DPR) is -186.05%.

Insider Transactions at Townsquare Media

In other news, CAO Robert L. Worshek sold 34,299 shares of Townsquare Media stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $6.62, for a total transaction of $227,059.38. Following the transaction, the chief accounting officer owned 142,722 shares in the company, valued at approximately $944,819.64. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Schatz sold 28,980 shares of Townsquare Media stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $5.08, for a total value of $147,218.40. Following the completion of the transaction, the executive vice president directly owned 123,977 shares in the company, valued at approximately $629,803.16. This represents a 18.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 30.30% of the company’s stock.

Institutional Investors Weigh In On Townsquare Media

Several institutional investors have recently bought and sold shares of the stock. Teton Advisors LLC purchased a new position in shares of Townsquare Media during the 3rd quarter valued at about $780,000. CastleKnight Management LP bought a new stake in shares of Townsquare Media in the 4th quarter worth approximately $209,000. Marshall Wace LLP grew its position in shares of Townsquare Media by 6.3% in the 4th quarter. Marshall Wace LLP now owns 37,953 shares of the company’s stock worth $195,000 after buying an additional 2,256 shares during the last quarter. Rhumbline Advisers grew its position in shares of Townsquare Media by 23.2% in the 1st quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock worth $147,000 after buying an additional 3,393 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Townsquare Media in the 4th quarter worth approximately $83,000. Institutional investors own 71.69% of the company’s stock.

Townsquare Media Company Profile

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.