Townsquare Media (NYSE:TSQ) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Townsquare Media, Inc. (NYSE:TSQ)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.89 and traded as low as $9.95. Townsquare Media shares last traded at $9.99, with a volume of 11,865 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TSQ shares. Barrington Research reiterated an “outperform” rating and set a $17.00 price objective on shares of Townsquare Media in a research report on Monday, August 12th. StockNews.com cut shares of Townsquare Media from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

Townsquare Media Price Performance

The stock has a market capitalization of $150.55 million, a PE ratio of -1.74, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 271.80. The stock’s 50 day moving average price is $10.18 and its 200-day moving average price is $10.88.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.28). Townsquare Media had a negative net margin of 19.53% and a negative return on equity of 171.57%. The company had revenue of $118.23 million for the quarter, compared to analysts’ expectations of $117.99 million. As a group, equities analysts forecast that Townsquare Media, Inc. will post 0.97 EPS for the current year.

Townsquare Media Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.1975 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.79 dividend on an annualized basis and a yield of 8.08%. Townsquare Media’s dividend payout ratio is presently -14.08%.

Insider Activity

In related news, Director Stephen A. Kaplan acquired 50,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were purchased at an average price of $10.41 per share, for a total transaction of $520,500.00. Following the completion of the acquisition, the director now directly owns 137,808 shares in the company, valued at $1,434,581.28. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Erik Hellum sold 18,166 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.05, for a total value of $182,568.30. Following the transaction, the chief operating officer now owns 562,680 shares in the company, valued at approximately $5,654,934. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen A. Kaplan purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average price of $10.41 per share, for a total transaction of $520,500.00. Following the acquisition, the director now owns 137,808 shares in the company, valued at $1,434,581.28. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 28,585 shares of company stock worth $289,812 over the last 90 days. 30.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Townsquare Media

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Townsquare Media by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 603,568 shares of the company’s stock valued at $6,627,000 after buying an additional 12,073 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Townsquare Media by 19.8% during the 2nd quarter. Ritholtz Wealth Management now owns 33,841 shares of the company’s stock valued at $371,000 after buying an additional 5,600 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Townsquare Media by 8.0% during the 1st quarter. Empowered Funds LLC now owns 64,125 shares of the company’s stock valued at $704,000 after buying an additional 4,725 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Townsquare Media by 12.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 75,065 shares of the company’s stock valued at $824,000 after buying an additional 8,079 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Townsquare Media by 8.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,360 shares of the company’s stock valued at $465,000 after buying an additional 3,469 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

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.