Insider Selling: Townsquare Media (NYSE:TSQ) CEO Sells $118,666.80 in Stock

Townsquare Media, Inc. (NYSE:TSQ) CEO Bill Wilson sold 21,420 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $5.54, for a total transaction of $118,666.80. Following the sale, the chief executive officer directly owned 2,979,061 shares of the company’s stock, valued at approximately $16,503,997.94. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bill Wilson also recently made the following trade(s):

• On Tuesday, August 11th, Bill Wilson sold 126,744 shares of Townsquare Media stock. The stock was sold at an average price of $5.61, for a total transaction of $711,033.84.

Townsquare Media Price Performance

TSQ opened at $5.72 on Friday. Townsquare Media, Inc. has a fifty-two week low of $4.30 and a fifty-two week high of $7.97. The firm has a market capitalization of $97.79 million, a PE ratio of -1.99, a P/E/G ratio of 23.75 and a beta of 1.22. The company’s 50-day moving average is $6.45 and its 200 day moving average is $6.48.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $114.00 million during the quarter, compared to the consensus estimate of $114.74 million. Townsquare Media had a negative return on equity of 5.59% and a negative net margin of 11.82%. As a group, analysts expect that Townsquare Media, Inc. will post 0.02 EPS for the current year.

Townsquare Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 26th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, October 26th. This represents a $0.80 annualized dividend and a yield of 14.0%. Townsquare Media’s dividend payout ratio is -27.78%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Townsquare Media by 4.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 48,152 shares of the company’s stock worth $248,000 after buying an additional 2,049 shares during the last quarter. CastleKnight Management LP purchased a new stake in Townsquare Media during the fourth quarter worth about $209,000. Marshall Wace LLP increased its holdings in Townsquare Media by 6.3% during the fourth quarter. Marshall Wace LLP now owns 37,953 shares of the company’s stock worth $195,000 after buying an additional 2,256 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Townsquare Media in the third quarter worth about $144,000. Finally, Occudo Quantitative Strategies LP purchased a new position in Townsquare Media in the second quarter valued at about $101,000. Institutional investors own 71.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TSQ shares. Wall Street Zen downgraded shares of Townsquare Media from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings downgraded shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Zacks Research lowered shares of Townsquare Media from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Barrington Research restated an “outperform” rating and set a $10.00 price target on shares of Townsquare Media in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Townsquare Media currently has a consensus rating of “Reduce” and a consensus target price of $10.00.

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.