Insider Selling: Townsquare Media (NYSE:TSQ) COO Sells 35,000 Shares of Stock

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

Townsquare Media Trading Up 0.2%

TSQ stock traded up $0.01 during trading hours on Thursday, hitting $6.51. 59,197 shares of the stock were exchanged, compared to its average volume of 143,873. The firm has a market capitalization of $111.35 million, a P/E ratio of -15.14, a P/E/G ratio of 2.60 and a beta of 1.21. The company has a 50-day simple moving average of $6.42 and a two-hundred day simple moving average of $6.08. Townsquare Media, Inc. has a 12 month low of $4.30 and a 12 month high of $9.31.

Townsquare Media (NYSE:TSQ) last released its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share (EPS) 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 analyst estimates 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, equities research analysts predict that Townsquare Media, Inc. will post 0.21 earnings per share for the current year.

Townsquare Media Announces Dividend

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 $0.20 dividend. The ex-dividend date of this dividend is Monday, July 27th. This represents a $0.80 annualized dividend and a yield of 12.3%. Townsquare Media’s dividend payout ratio (DPR) is -186.05%.

Hedge Funds Weigh In On Townsquare Media

Hedge funds have recently made changes to their positions in the stock. Teton Advisors LLC bought a new position in shares of Townsquare Media during the third quarter worth about $780,000. AlphaCore Capital LLC bought a new position in shares of Townsquare Media during the third quarter worth about $69,000. Krilogy Financial LLC raised its position in shares of Townsquare Media by 79.9% during the third quarter. Krilogy Financial LLC now owns 72,000 shares of the company’s stock worth $448,000 after acquiring an additional 31,988 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Townsquare Media during the fourth quarter worth about $83,000. Finally, Algert Global LLC bought a new position in shares of Townsquare Media during the third quarter worth about $72,000. 71.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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