Bill Wilson Sells 21,420 Shares of Townsquare Media (NYSE:TSQ) Stock

Key Points

• CEO Bill Wilson sold 21,420 Townsquare Media shares at an average price of $5.54, worth approximately $118,667, reducing his position by 0.71% to 2.98 million shares. He also sold 126,744 shares the previous day for about $711,034.
• Townsquare Media reported quarterly EPS of $0.21, beating estimates of $0.19, while revenue of $114.0 million slightly missed expectations. The stock traded at $5.65 and has a 52-week range of $4.30 to $7.97.
• The company declared a quarterly dividend of $0.20, equivalent to an annualized yield of 14.2%. Analyst sentiment remains cautious, with a consensus “Reduce” rating despite a $10 average price target.

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) CEO Bill Wilson sold 21,420 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $5.54, for a total value of $118,666.80. Following the completion of the sale, the chief executive officer owned 2,979,061 shares in the company, valued at $16,503,997.94. This trade represents a 0.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bill Wilson also recently made the following trade(s):

• On Tuesday, August 11th, Bill Wilson sold 126,744 shares of Townsquare Media stock. The stock was sold at an average price of $5.61, for a total value of $711,033.84.

Townsquare Media Price Performance

NYSE TSQ traded up $0.14 during trading on Wednesday, reaching $5.65. The company's stock had a trading volume of 99,409 shares, compared to its average volume of 126,037. The stock has a market capitalization of $96.61 million, a PE ratio of -1.96, a P/E/G ratio of 24.79 and a beta of 1.22. The firm has a fifty day moving average of $6.50 and a 200 day moving average of $6.49. Townsquare Media, Inc. has a one year low of $4.30 and a one year high of $7.97.

Townsquare Media (NYSE:TSQ - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The firm had revenue of $114.00 million during the quarter, compared to the consensus estimate of $114.74 million. Townsquare Media had a negative return on equity of 5.59% and a negative net margin of 11.82%. Research analysts expect that Townsquare Media, Inc. will post 0.02 earnings per share for the current fiscal year.

Townsquare Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 26th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 14.2%. Townsquare Media's dividend payout ratio is presently -27.78%.

Wall Street Analysts Forecast Growth

TSQ has been the subject of several research reports. Wall Street Zen lowered shares of Townsquare Media from a "buy" rating to a "hold" rating in a research report on Saturday. Barrington Research reaffirmed an "outperform" rating and set a $10.00 price target on shares of Townsquare Media in a research note on Monday, May 11th. Weiss Ratings cut Townsquare Media from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday. Finally, Zacks Research lowered Townsquare Media from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Townsquare Media has a consensus rating of "Reduce" and an average price target of $10.00.

Institutional Investors Weigh In On Townsquare Media

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its holdings in Townsquare Media by 4.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 48,152 shares of the company's stock valued at $248,000 after purchasing an additional 2,049 shares during the period. Marshall Wace LLP lifted its holdings in Townsquare Media by 6.3% in the 4th quarter. Marshall Wace LLP now owns 37,953 shares of the company's stock worth $195,000 after buying an additional 2,256 shares during the period. Gabelli Funds LLC grew its position 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 worth $344,000 after buying an additional 2,300 shares during the last quarter. Janney Montgomery Scott LLC increased its stake 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 valued at $249,000 after buying an additional 2,319 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Townsquare Media by 23.2% during the first quarter. Rhumbline Advisers now owns 18,036 shares of the company's stock valued at $147,000 after buying an additional 3,393 shares during the period. Hedge funds and other institutional investors own 71.69% of the company's stock.

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.

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