Townsquare Media (NYSE:TSQ) Shares Cross Above 50 Day Moving Average of $11.10

Townsquare Media, Inc. (NYSE:TSQ) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.10 and traded as high as $12.43. Townsquare Media shares last traded at $11.92, with a volume of 49,872 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TSQ shares. Barrington Research reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Townsquare Media in a research report on Tuesday, April 2nd. Noble Financial increased their target price on shares of Townsquare Media from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Guggenheim increased their target price on shares of Townsquare Media from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, StockNews.com cut shares of Townsquare Media from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th.

Townsquare Media Price Performance

The stock’s 50-day moving average is $11.16 and its 200 day moving average is $10.30. The company has a market cap of $206.05 million, a PE ratio of -4.52, a PEG ratio of 0.65 and a beta of 1.37. The company has a debt-to-equity ratio of 50.41, a current ratio of 1.74 and a quick ratio of 1.74.

Townsquare Media (NYSE:TSQ) last posted its quarterly earnings results on Friday, March 15th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $114.79 million during the quarter, compared to analysts’ expectations of $111.78 million. Townsquare Media had a negative net margin of 9.90% and a positive return on equity of 55.40%. On average, equities analysts anticipate that Townsquare Media, Inc. will post 1.54 earnings per share for the current fiscal year.

Townsquare Media Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.198 per share. This represents a $0.79 annualized dividend and a yield of 6.39%. This is an increase from Townsquare Media’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, April 4th. Townsquare Media’s dividend payout ratio (DPR) is presently -28.83%.

Insider Buying and Selling at Townsquare Media

In other Townsquare Media news, EVP Claire Marie Yenicay sold 31,048 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $12.36, for a total transaction of $383,753.28. Following the transaction, the executive vice president now directly owns 190,191 shares of the company’s stock, valued at $2,350,760.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Erik Hellum sold 3,380 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $11.03, for a total value of $37,281.40. Following the transaction, the chief operating officer now directly owns 736,736 shares of the company’s stock, valued at $8,126,198.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Claire Marie Yenicay sold 31,048 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $12.36, for a total transaction of $383,753.28. Following the completion of the transaction, the executive vice president now directly owns 190,191 shares in the company, valued at $2,350,760.76. The disclosure for this sale can be found here. Insiders have sold a total of 2,886,934 shares of company stock valued at $35,653,276 over the last ninety days. Corporate insiders own 34.90% of the company’s stock.

Institutional Investors Weigh In On Townsquare Media

A number of institutional investors have recently made changes to their positions in TSQ. BlackRock Inc. increased its stake in Townsquare Media by 295.4% during the 2nd quarter. BlackRock Inc. now owns 631,135 shares of the company’s stock worth $7,517,000 after buying an additional 471,529 shares during the period. Access Investment Management LLC purchased a new stake in shares of Townsquare Media in the 4th quarter valued at approximately $4,156,000. State Street Corp increased its position in shares of Townsquare Media by 331.1% in the 2nd quarter. State Street Corp now owns 143,738 shares of the company’s stock valued at $1,738,000 after purchasing an additional 110,399 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Townsquare Media by 92.6% in the 2nd quarter. Geode Capital Management LLC now owns 229,368 shares of the company’s stock valued at $2,732,000 after purchasing an additional 110,303 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Townsquare Media by 376.1% in the 2nd quarter. Northern Trust Corp now owns 98,059 shares of the company’s stock valued at $1,168,000 after purchasing an additional 77,464 shares during the last quarter. 71.69% of the stock is currently 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.