Townsquare Media (NYSE:TSQ) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Shares of Townsquare Media, Inc. (NYSE:TSQ) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.28 and traded as high as $6.70. Townsquare Media shares last traded at $6.3910, with a volume of 396,448 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSQ. Weiss Ratings reiterated a “sell (d)” rating on shares of Townsquare Media in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Townsquare Media from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Barrington Research decreased their target price on shares of Townsquare Media from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.50.

Townsquare Media Trading Up 5.3%

The firm has a market capitalization of $105.20 million, a price-to-earnings ratio of 6.20, a price-to-earnings-growth ratio of 0.80 and a beta of 0.88. The firm has a 50 day moving average price of $5.28 and a two-hundred day moving average price of $6.21.

Townsquare Media (NYSE:TSQ) last posted its earnings results on Monday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $106.76 million during the quarter, compared to the consensus estimate of $107.96 million. Townsquare Media had a net margin of 4.27% and a negative return on equity of 47.95%. As a group, research analysts forecast that Townsquare Media, Inc. will post 1.07 earnings per share for the current year.

Townsquare Media Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 26th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, January 26th. This represents a $0.80 annualized dividend and a dividend yield of 12.5%. Townsquare Media’s payout ratio is presently 77.67%.

Insiders Place Their Bets

In related news, COO Erik Hellum sold 6,522 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $5.57, for a total value of $36,327.54. Following the completion of the sale, the chief operating officer directly owned 969,648 shares in the company, valued at approximately $5,400,939.36. This represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 19,652 shares of company stock worth $106,335. 29.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Townsquare Media

Several institutional investors and hedge funds have recently modified their holdings of the stock. Access Investment Management LLC acquired a new stake in shares of Townsquare Media in the second quarter valued at about $3,160,000. RBF Capital LLC boosted its holdings in Townsquare Media by 862.7% in the 2nd quarter. RBF Capital LLC now owns 422,931 shares of the company’s stock worth $3,345,000 after acquiring an additional 379,000 shares during the period. Truffle Hound Capital LLC acquired a new stake in Townsquare Media in the second quarter valued at approximately $1,186,000. American Century Companies Inc. raised its stake in shares of Townsquare Media by 18.0% during the second quarter. American Century Companies Inc. now owns 856,651 shares of the company’s stock valued at $6,776,000 after purchasing an additional 130,537 shares during the period. Finally, Teton Advisors LLC purchased a new stake in shares of Townsquare Media during the third quarter valued at approximately $780,000. Hedge funds and other 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.