Townsquare Media (NYSE:TSQ) COO Erik Hellum Sells 35,000 Shares

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 35,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $6.44, for a total transaction of $225,400.00. Following the sale, the chief operating officer directly owned 914,542 shares of the company’s stock, valued at $5,889,650.48. This represents a 3.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Townsquare Media Stock Up 0.2%

TSQ stock opened at $6.51 on Friday. The stock has a market capitalization of $111.32 million, a P/E ratio of -15.14, a P/E/G ratio of 2.58 and a beta of 1.21. The firm has a 50-day simple moving average of $6.44 and a 200-day simple moving average of $6.09. Townsquare Media, Inc. has a 52 week low of $4.30 and a 52 week high of $9.31.

Townsquare Media (NYSE:TSQ) last released 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). Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%.The company had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $96.46 million. On average, analysts expect that Townsquare Media, Inc. will post 0.21 earnings per share for the current year.

Townsquare Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 27th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 12.3%. The ex-dividend date of this dividend is Monday, July 27th. Townsquare Media’s dividend payout ratio is currently -186.05%.

Institutional Trading of Townsquare Media

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TSQ shares. Weiss Ratings cut shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Wall Street Zen raised shares of Townsquare Media from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Townsquare Media in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Townsquare Media has an average rating of “Hold” and an average 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.