Insider Selling: Townsquare Media (NYSE:TSQ) COO Sells $225,400.00 in Stock

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 35,000 shares of Townsquare Media stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total transaction of $225,400.00. Following the completion of the transaction, the chief operating officer owned 914,542 shares of the company’s stock, valued at $5,889,650.48. This trade represents a 3.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Townsquare Media Stock Performance

Shares of TSQ stock opened at $6.67 on Friday. The stock has a market capitalization of $114.00 million, a P/E ratio of -15.50, a price-to-earnings-growth ratio of 2.64 and a beta of 1.21. The company has a 50 day moving average price of $6.46 and a 200 day moving average price of $6.10. Townsquare Media, Inc. has a fifty-two week low of $4.30 and a fifty-two week high of $9.31.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. The business had revenue of $96.10 million during the quarter, compared to analyst estimates of $96.46 million. On average, research analysts forecast that Townsquare Media, Inc. will post 0.21 EPS for the current fiscal year.

Townsquare Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 27th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 12.0%. The ex-dividend date is Monday, July 27th. Townsquare Media’s payout ratio is -186.05%.

Institutional Trading of Townsquare Media

Several institutional investors have recently modified their holdings of the stock. Beck Mack & Oliver LLC raised its position in Townsquare Media by 8.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock valued at $5,518,000 after purchasing an additional 85,000 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Townsquare Media by 3.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock valued at $2,088,000 after purchasing an additional 12,300 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Townsquare Media by 52.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock valued at $2,212,000 after purchasing an additional 93,753 shares during the last quarter. Geode Capital Management LLC raised its position in Townsquare Media by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 153,075 shares of the company’s stock valued at $787,000 after purchasing an additional 8,177 shares during the last quarter. Finally, Teton Advisors LLC purchased a new stake in Townsquare Media in the 3rd quarter valued at $780,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barrington Research reiterated an “outperform” rating and set a $10.00 price target on shares of Townsquare Media in a report on Monday, May 11th. Wall Street Zen upgraded shares of Townsquare Media from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded shares of Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

About Townsquare Media

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.