Erik Hellum Sells 5,693 Shares of Townsquare Media (NYSE:TSQ) Stock

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 5,693 shares of the stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $5.06, for a total transaction of $28,806.58. Following the completion of the transaction, the chief operating officer directly owned 754,798 shares in the company, valued at $3,819,277.88. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Townsquare Media Stock Performance

Shares of TSQ stock traded up $0.06 during midday trading on Wednesday, hitting $5.10. 58,287 shares of the company were exchanged, compared to its average volume of 78,782. Townsquare Media, Inc. has a 52 week low of $4.30 and a 52 week high of $10.23. The firm has a market capitalization of $83.95 million, a P/E ratio of 4.95, a PEG ratio of 1.23 and a beta of 0.88. The firm’s 50 day moving average price is $5.39 and its two-hundred day moving average price is $6.51.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Monday, November 10th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Townsquare Media had a net margin of 4.27% and a negative return on equity of 47.95%. The firm had revenue of $106.76 million for the quarter, compared to analysts’ expectations of $107.96 million. Analysts expect that Townsquare Media, Inc. will post 1.07 EPS for the current year.

Townsquare Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 26th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 15.7%. The ex-dividend date of this dividend is Monday, January 26th. Townsquare Media’s dividend payout ratio is currently 77.67%.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Townsquare Media in the 2nd quarter valued at approximately $33,000. AlphaCore Capital LLC bought a new position in Townsquare Media in the third quarter valued at approximately $69,000. Algert Global LLC bought a new position in Townsquare Media in the third quarter valued at approximately $72,000. Hsbc Holdings PLC acquired a new position in Townsquare Media during the first quarter valued at approximately $86,000. Finally, Occudo Quantitative Strategies LP bought a new stake in Townsquare Media during the second quarter worth $101,000. 71.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TSQ has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Townsquare Media in a report on Monday. Barrington Research dropped their price objective on shares of Townsquare Media from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.50.

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.