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

Townsquare Media, Inc. (NYSE:TSQ)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.47 and traded as low as $9.95. Townsquare Media shares last traded at $10.16, with a volume of 44,110 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TSQ shares. StockNews.com upgraded Townsquare Media from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Barrington Research restated an “outperform” rating and issued a $17.00 price objective on shares of Townsquare Media in a report on Thursday, November 7th.

Townsquare Media Price Performance

The company has a market cap of $158.14 million, a price-to-earnings ratio of -3.75, a PEG ratio of 0.79 and a beta of 1.32. The stock’s 50-day simple moving average is $10.10 and its 200 day simple moving average is $10.46. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 271.80.

Townsquare Media Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Tuesday, January 21st will be issued a $0.1975 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $0.79 annualized dividend and a yield of 7.77%. Townsquare Media’s dividend payout ratio (DPR) is presently -29.15%.

Insiders Place Their Bets

In other Townsquare Media news, Director Stephen A. Kaplan bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of $10.41 per share, with a total value of $520,500.00. Following the purchase, the director now directly owns 137,808 shares in the company, valued at approximately $1,434,581.28. This represents a 56.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Msd Capital L. P sold 5,139 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $51,544.17. Following the completion of the transaction, the insider now directly owns 1,452,549 shares of the company’s stock, valued at $14,569,066.47. This represents a 0.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,866 shares of company stock worth $809,750 over the last ninety days. Corporate insiders own 30.50% of the company’s stock.

Institutional Trading of Townsquare Media

Hedge funds have recently modified their holdings of the stock. Copeland Capital Management LLC acquired a new position in Townsquare Media during the 3rd quarter worth approximately $39,000. Meeder Asset Management Inc. purchased a new position in Townsquare Media in the second quarter valued at $57,000. BNP Paribas Financial Markets increased its holdings in Townsquare Media by 28.9% in the third quarter. BNP Paribas Financial Markets now owns 6,698 shares of the company’s stock valued at $68,000 after buying an additional 1,503 shares during the last quarter. Rhumbline Advisers raised its stake in Townsquare Media by 24.4% in the second quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock valued at $139,000 after buying an additional 2,481 shares in the last quarter. Finally, Privium Fund Management UK Ltd purchased a new stake in Townsquare Media during the 2nd quarter worth about $232,000. 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.