Insider Selling: Townsquare Media (NYSE:TSQ) COO Sells $41,200.98 in Stock

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 7,437 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $5.54, for a total transaction of $41,200.98. Following the sale, the chief operating officer owned 1,029,150 shares in the company, valued at $5,701,491. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Erik Hellum also recently made the following trade(s):

• On Tuesday, January 20th, Erik Hellum sold 6,522 shares of Townsquare Media stock. The stock was sold at an average price of $5.57, for a total value of $36,327.54.
• On Monday, December 29th, Erik Hellum sold 5,693 shares of Townsquare Media stock. The stock was sold at an average price of $5.06, for a total value of $28,806.58.

Townsquare Media Price Performance

Shares of TSQ stock opened at $6.01 on Friday. The company has a market cap of $98.86 million, a PE ratio of 5.83, a price-to-earnings-growth ratio of 0.81 and a beta of 0.88. Townsquare Media, Inc. has a 1 year low of $4.30 and a 1 year high of $9.38. The stock’s 50 day simple moving average is $5.18 and its two-hundred day simple moving average is $6.26.

Townsquare Media (NYSE:TSQ) last released its 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 negative return on equity of 47.95% and a net margin of 4.27%.The firm had revenue of $106.76 million for the quarter, compared to the consensus estimate of $107.96 million. Equities research analysts expect that Townsquare Media, Inc. will post 1.07 EPS for the current year.

Townsquare Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 26th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, January 26th. This represents a $0.80 annualized dividend and a dividend yield of 13.3%. Townsquare Media’s dividend payout ratio is currently 77.67%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TSQ shares. Weiss Ratings reissued a “sell (d)” rating on shares of Townsquare Media in a research report on Monday, December 29th. Barrington Research reduced their price target on Townsquare Media from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Finally, Wall Street Zen cut Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.50.

Institutional Trading of Townsquare Media

Hedge funds have recently modified their holdings of the company. Gabelli Funds LLC lifted its holdings in shares of Townsquare Media by 4.9% during the 2nd 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 during the last quarter. Rhumbline Advisers grew its stake in Townsquare Media by 23.2% during the 1st quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock valued at $147,000 after purchasing an additional 3,393 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Townsquare Media in the second quarter worth about $33,000. Crews Bank & Trust purchased a new position in shares of Townsquare Media during the 4th quarter valued at approximately $26,000. Finally, Boyar Asset Management Inc. grew its holdings in Townsquare Media by 17.7% in the second quarter. Boyar Asset Management Inc. now owns 42,540 shares of the company’s stock valued at $336,000 after purchasing an additional 6,387 shares during the period. 71.69% of the stock is owned by hedge funds and other institutional investors.

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.