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 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 transaction, the chief accounting officer owned 142,722 shares in the company, valued at approximately $944,819.64. The trade was a 19.38% 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 Down 2.4%

Shares of TSQ stock traded down $0.17 during trading hours on Friday, hitting $6.60. 36,038 shares of the company were exchanged, compared to its average volume of 152,819. The firm has a market cap of $112.77 million, a PE ratio of -15.34, a PEG ratio of 1.44 and a beta of 1.21. Townsquare Media, Inc. has a 1 year low of $4.30 and a 1 year high of $9.31. The firm has a fifty day moving average of $6.17 and a 200 day moving average of $5.99.

Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $96.46 million. Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%. Analysts expect that Townsquare Media, Inc. will post 0.39 earnings per share for the current year.

Townsquare Media Dividend Announcement

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

Institutional Investors Weigh In On Townsquare Media

A number of institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC raised its stake in shares of Townsquare Media by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 63,300 shares of the company’s stock valued at $344,000 after purchasing an additional 2,300 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Townsquare Media by 3.3% during the first quarter. Gamco Investors INC. ET AL now owns 384,518 shares of the company’s stock worth $2,088,000 after purchasing an additional 12,300 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Townsquare Media during the first quarter worth about $129,000. Janney Montgomery Scott LLC lifted its position in shares of Townsquare Media by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock worth $249,000 after purchasing an additional 2,319 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of Townsquare Media during the first quarter worth about $158,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TSQ. Weiss Ratings upgraded shares of Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Barrington Research restated an “outperform” rating and issued a $10.00 price target on shares of Townsquare Media in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Townsquare Media from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.