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

Townsquare Media, Inc. (NYSE:TSQ) CAO Robert Worshek sold 34,299 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was 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 owned 142,722 shares in the company, valued at $944,819.64. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Townsquare Media Price Performance

Shares of TSQ stock opened at $6.60 on Friday. The company has a market capitalization of $112.77 million, a P/E ratio of -15.34, a P/E/G ratio of 1.41 and a beta of 1.21. The company’s 50-day simple moving average is $6.20 and its two-hundred day simple moving average is $5.99. Townsquare Media, Inc. has a one year low of $4.30 and a one year high of $9.31.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The company had revenue of $96.10 million during the quarter, compared to the consensus estimate of $96.46 million. Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%. On average, research analysts expect that Townsquare Media, Inc. will post 0.39 EPS for the current fiscal year.

Townsquare Media Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 27th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date is Monday, July 27th. Townsquare Media’s dividend payout ratio is currently -186.05%.

Hedge Funds Weigh In On Townsquare Media

A number of hedge funds and other institutional investors have recently modified their holdings of TSQ. Goldman Sachs Group Inc. boosted its stake in shares of Townsquare Media by 52.7% during the first 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 in the last quarter. Rhumbline Advisers boosted its stake in shares of Townsquare Media by 23.2% during the first quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock valued at $147,000 after purchasing an additional 3,393 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Townsquare Media during the second quarter valued at approximately $240,000. Marshall Wace LLP boosted its stake in shares of Townsquare Media by 63.1% during the second quarter. Marshall Wace LLP now owns 82,107 shares of the company’s stock valued at $649,000 after purchasing an additional 31,773 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Townsquare Media by 4.9% during the second quarter. Gabelli Funds LLC now owns 57,500 shares of the company’s stock valued at $455,000 after purchasing an additional 2,700 shares in the last quarter. 71.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Wall Street Zen upgraded shares of Townsquare Media from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Barrington Research reiterated an “outperform” rating and set a $10.00 price objective on shares of Townsquare Media in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Townsquare Media currently has an average rating of “Hold” and an average price target 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.