Insider Selling: Townsquare Media, Inc. (NYSE:TSQ) COO Sells 1,480 Shares of Stock

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 1,480 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $10.90, for a total transaction of $16,132.00. Following the completion of the transaction, the chief operating officer now owns 714,845 shares in the company, valued at approximately $7,791,810.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Erik Hellum also recently made the following trade(s):

• On Friday, March 22nd, Erik Hellum sold 5,000 shares of Townsquare Media stock. The shares were sold at an average price of $10.95, for a total transaction of $54,750.00.
• On Wednesday, March 20th, Erik Hellum sold 3,380 shares of Townsquare Media stock. The shares were sold at an average price of $11.03, for a total transaction of $37,281.40.
• On Thursday, December 28th, Erik Hellum sold 31,182 shares of Townsquare Media stock. The shares were sold at an average price of $10.97, for a total transaction of $342,066.54.

Townsquare Media Stock Performance

Townsquare Media stock opened at $10.95 on Thursday. The company has a market cap of $182.10 million, a PE ratio of -4.00, a P/E/G ratio of 0.64 and a beta of 1.37. The company has a fifty day moving average price of $10.76 and a two-hundred day moving average price of $9.97. The company has a debt-to-equity ratio of 50.41, a current ratio of 1.74 and a quick ratio of 1.74. Townsquare Media, Inc. has a 12 month low of $7.89 and a 12 month high of $12.65.

Townsquare Media Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.198 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date is Thursday, April 4th. This is an increase from Townsquare Media’s previous quarterly dividend of $0.19. Townsquare Media’s payout ratio is currently -27.37%.

Analysts Set New Price Targets

TSQ has been the subject of several recent research reports. Barrington Research reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Townsquare Media in a research report on Friday, March 15th. Guggenheim raised their price target on shares of Townsquare Media from $12.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, March 20th.

Hedge Funds Weigh In On Townsquare Media

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its holdings in Townsquare Media by 169.3% in the third quarter. Tower Research Capital LLC TRC now owns 4,597 shares of the company’s stock worth $33,000 after purchasing an additional 2,890 shares during the period. Group One Trading L.P. acquired a new position in Townsquare Media in the first quarter worth $40,000. Citigroup Inc. bought a new stake in Townsquare Media in the second quarter valued at $41,000. California State Teachers Retirement System bought a new stake in Townsquare Media in the second quarter valued at $46,000. Finally, BNP Paribas Arbitrage SNC bought a new stake in Townsquare Media in the second quarter valued at $63,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.