Townsquare Media (NYSE:TSQ) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Townsquare Media, Inc. (NYSE:TSQ) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.08 and traded as low as $8.98. Townsquare Media shares last traded at $9.06, with a volume of 25,278 shares trading hands.

Analyst Ratings Changes

Several research firms recently commented on TSQ. StockNews.com raised Townsquare Media from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Barrington Research reissued an “outperform” rating and set a $17.00 price objective on shares of Townsquare Media in a research report on Thursday, November 7th. Finally, Noble Financial reaffirmed an “outperform” rating and issued a $21.00 target price on shares of Townsquare Media in a report on Friday, January 24th.

Townsquare Media Stock Performance

The firm has a market capitalization of $140.92 million, a price-to-earnings ratio of -3.34, a PEG ratio of 0.57 and a beta of 1.31. The company has a 50-day moving average price of $9.53 and a 200-day moving average price of $10.08.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $115.31 million for the quarter, compared to analyst estimates of $115.48 million. Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. During the same period in the prior year, the firm posted $0.46 earnings per share. On average, research analysts expect that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Townsquare Media news, EVP Claire Marie Yenicay sold 5,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $9.65, for a total transaction of $48,250.00. Following the transaction, the executive vice president now directly owns 207,393 shares of the company’s stock, valued at approximately $2,001,342.45. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott Schatz sold 4,594 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $9.65, for a total value of $44,332.10. Following the transaction, the executive vice president now directly owns 31,366 shares in the company, valued at approximately $302,681.90. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,214 shares of company stock worth $679,106 in the last ninety days. 30.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Townsquare Media by 0.4% in the third quarter. Geode Capital Management LLC now owns 278,985 shares of the company’s stock valued at $2,835,000 after purchasing an additional 1,151 shares during the period. 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 in the last quarter. Access Investment Management LLC lifted its position in shares of Townsquare Media by 0.5% during the 4th quarter. Access Investment Management LLC now owns 398,450 shares of the company’s stock valued at $3,622,000 after acquiring an additional 1,985 shares during the period. Empowered Funds LLC boosted its stake in shares of Townsquare Media by 5.2% during the 4th quarter. Empowered Funds LLC now owns 56,634 shares of the company’s stock worth $515,000 after acquiring an additional 2,804 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Townsquare Media by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 40,730 shares of the company’s stock worth $370,000 after acquiring an additional 3,319 shares during the period. Institutional investors and hedge funds 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.