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

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 35,000 shares of Townsquare Media stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 914,542 shares of the company’s stock, valued at approximately $5,889,650.48. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Townsquare Media Trading Up 0.2%

TSQ stock traded up $0.01 during mid-day trading on Thursday, reaching $6.51. The company’s stock had a trading volume of 59,197 shares, compared to its average volume of 143,873. The company has a market cap of $111.35 million, a price-to-earnings ratio of -15.14, a price-to-earnings-growth ratio of 2.60 and a beta of 1.21. The business’s 50 day moving average price is $6.42 and its 200 day moving average price is $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 issued its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business 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%. As a group, equities analysts expect that Townsquare Media, Inc. will post 0.21 EPS for the current fiscal year.

Townsquare Media Announces Dividend

The company also recently disclosed 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 12.3%. The ex-dividend date of this dividend is Monday, July 27th. Townsquare Media’s dividend payout ratio (DPR) is -186.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TSQ. Crews Bank & Trust purchased a new position in Townsquare Media in the fourth quarter worth $26,000. Raymond James Financial Inc. purchased a new position in Townsquare Media in the second quarter worth $33,000. AlphaCore Capital LLC purchased a new position in Townsquare Media in the third quarter worth $69,000. Algert Global LLC purchased a new position in Townsquare Media in the third quarter worth $72,000. Finally, XTX Topco Ltd purchased a new position in Townsquare Media in the fourth quarter worth $83,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TSQ. Weiss Ratings cut Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Barrington Research reissued an “outperform” rating and issued a $10.00 price objective on shares of Townsquare Media in a research note on Monday, May 11th. Finally, Wall Street Zen raised Townsquare Media from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus 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.