Townsquare Media (NYSE:TSQ) Share Price Passes Above 50-Day Moving Average – Here’s Why

Townsquare Media, Inc. (NYSE:TSQ)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.89 and traded as high as $6.93. Townsquare Media shares last traded at $6.83, with a volume of 158,858 shares.

Wall Street Analyst Weigh In

TSQ has been the topic of several research reports. Barrington Research cut their price target on shares of Townsquare Media from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Townsquare Media in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.50.

Townsquare Media Stock Performance

The stock has a market cap of $112.42 million, a PE ratio of 6.63, a PEG ratio of 0.88 and a beta of 0.99. The stock has a fifty day simple moving average of $5.89 and a two-hundred day simple moving average of $6.13.

Insiders Place Their Bets

In related news, COO Erik Hellum sold 6,522 shares of Townsquare Media stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $5.57, for a total transaction of $36,327.54. Following the sale, the chief operating officer owned 969,648 shares of the company’s stock, valued at $5,400,939.36. The trade was a 0.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 19,652 shares of company stock worth $106,335. 30.50% of the stock is currently owned by company insiders.

Institutional Trading of Townsquare Media

Several large investors have recently modified their holdings of the business. Crews Bank & Trust purchased a new stake in shares of Townsquare Media during the fourth quarter worth about $26,000. Raymond James Financial Inc. acquired a new stake in Townsquare Media during the 2nd quarter valued at approximately $33,000. AlphaCore Capital LLC acquired a new stake in Townsquare Media during the 3rd quarter valued at approximately $69,000. Algert Global LLC purchased a new stake in Townsquare Media during the 3rd quarter worth approximately $72,000. Finally, XTX Topco Ltd acquired a new position in shares of Townsquare Media in the 4th quarter valued at approximately $83,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.

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.