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 shares were sold at an average price of $6.44, for a total transaction of $225,400.00. Following the completion of the transaction, the chief operating officer owned 914,542 shares of the company’s stock, valued at $5,889,650.48. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Townsquare Media Trading Up 2.1%

Townsquare Media stock opened at $6.67 on Friday. Townsquare Media, Inc. has a 1-year low of $4.30 and a 1-year high of $9.31. The firm has a market capitalization of $113.97 million, a price-to-earnings ratio of -15.50, a P/E/G ratio of 2.59 and a beta of 1.21. The firm has a 50 day simple moving average of $6.46 and a 200 day simple moving average of $6.10.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings data 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). Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. The business had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $96.46 million. On average, equities research analysts forecast that Townsquare Media, Inc. will post 0.21 EPS 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. This represents a $0.80 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date is Monday, July 27th. Townsquare Media’s payout ratio is currently -186.05%.

Institutional Trading of Townsquare Media

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of Townsquare Media during the 2nd quarter worth $33,000. Crews Bank & Trust bought a new stake in shares of Townsquare Media during the 4th quarter worth $26,000. AlphaCore Capital LLC bought a new stake in shares of Townsquare Media during the 3rd quarter worth $69,000. Algert Global LLC bought a new stake in shares of Townsquare Media during the 3rd quarter worth $72,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Townsquare Media during the 2nd quarter worth $101,000. 71.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSQ has been the subject of several analyst reports. Wall Street Zen raised shares of Townsquare Media from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings downgraded shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. Finally, Barrington Research reissued an “outperform” rating and issued a $10.00 price target on shares of Townsquare Media in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently 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.