Erik Hellum Sells 10,000 Shares of Townsquare Media, Inc. (NYSE:TSQ) Stock

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) COO Erik Hellum sold 10,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $7.09, for a total value of $70,900.00. Following the sale, the chief operating officer now owns 723,948 shares of the company's stock, valued at approximately $5,132,791.32. This represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, June 6th, Erik Hellum sold 4,591 shares of Townsquare Media stock. The stock was sold at an average price of $7.08, for a total transaction of $32,504.28.
• On Thursday, June 5th, Erik Hellum sold 3,104 shares of Townsquare Media stock. The shares were sold at an average price of $7.00, for a total transaction of $21,728.00.
• On Tuesday, June 3rd, Erik Hellum sold 17,305 shares of Townsquare Media stock. The stock was sold at an average price of $7.00, for a total value of $121,135.00.

Townsquare Media Stock Up 1.4%

Shares of NYSE:TSQ traded up $0.10 during midday trading on Thursday, reaching $7.56. The company's stock had a trading volume of 83,902 shares, compared to its average volume of 64,257. The stock has a fifty day moving average of $6.95 and a 200 day moving average of $8.09. Townsquare Media, Inc. has a twelve month low of $6.47 and a twelve month high of $12.32. The firm has a market capitalization of $123.67 million, a PE ratio of -5.69, a P/E/G ratio of 1.35 and a beta of 1.11.

Townsquare Media (NYSE:TSQ - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $98.68 million for the quarter, compared to the consensus estimate of $98.50 million. Townsquare Media had a negative return on equity of 41.58% and a negative net margin of 3.41%. Sell-side analysts anticipate that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 10.58%. Townsquare Media's dividend payout ratio is presently -60.15%.

Institutional Investors Weigh In On Townsquare Media

A number of institutional investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC boosted its stake in Townsquare Media by 73.4% during the 1st quarter. Copeland Capital Management LLC now owns 6,753 shares of the company's stock worth $55,000 after purchasing an additional 2,859 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Townsquare Media by 56.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,296 shares of the company's stock valued at $57,000 after acquiring an additional 2,259 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in Townsquare Media in the 4th quarter worth approximately $69,000. Russell Investments Group Ltd. boosted its holdings in shares of Townsquare Media by 1,086.0% during the 4th quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company's stock worth $76,000 after purchasing an additional 7,700 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Townsquare Media during the first quarter worth $86,000. Institutional investors and hedge funds own 71.69% of the company's stock.

Wall Street Analyst Weigh In

TSQ has been the topic of several recent analyst reports. Barrington Research cut their price objective on shares of Townsquare Media from $15.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Noble Financial restated a "buy" rating and set a $21.00 price target on shares of Townsquare Media in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Townsquare Media from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th.

About Townsquare Media

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.