Townsquare Media (NYSE:TSQ) CAO Robert Worshek Sells 34,299 Shares of Stock

Townsquare Media, Inc. (NYSE:TSQ) CAO Robert Worshek sold 34,299 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $6.62, for a total transaction of $227,059.38. Following the completion of the transaction, the chief accounting officer directly owned 142,722 shares in the company, valued at approximately $944,819.64. The trade was a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Townsquare Media Stock Performance

Shares of NYSE TSQ opened at $6.60 on Friday. Townsquare Media, Inc. has a fifty-two week low of $4.30 and a fifty-two week high of $9.31. The stock has a market cap of $112.81 million, a price-to-earnings ratio of -15.34, a PEG ratio of 1.44 and a beta of 1.21. The firm’s 50-day simple moving average is $6.20 and its 200 day simple moving average is $5.99.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $96.46 million. On average, sell-side analysts predict that Townsquare Media, Inc. will post 0.39 EPS for the current year.

Townsquare Media Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 27th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $0.80 annualized dividend and a yield of 12.1%. Townsquare Media’s dividend payout ratio (DPR) is presently -186.05%.

Analyst Upgrades and Downgrades

TSQ has been the topic of several recent research reports. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Townsquare Media in a research report on Monday, May 11th. Weiss Ratings cut shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Townsquare Media from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Investors Weigh In On Townsquare Media

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSQ. Crews Bank & Trust purchased a new stake in Townsquare Media in the 4th quarter valued at about $26,000. Raymond James Financial Inc. purchased a new stake in Townsquare Media in the 2nd quarter valued at about $33,000. AlphaCore Capital LLC purchased a new stake in Townsquare Media in the 3rd quarter valued at about $69,000. Algert Global LLC purchased a new stake in Townsquare Media in the 3rd quarter valued at about $72,000. Finally, XTX Topco Ltd purchased a new stake in Townsquare Media in the 4th quarter valued at about $83,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

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.