Insider Selling: Townsquare Media, Inc. (NYSE:TSQ) COO Sells 17,305 Shares of Stock

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) COO Erik Hellum sold 17,305 shares of Townsquare Media stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $7.00, for a total transaction of $121,135.00. Following the sale, the chief operating officer now owns 741,643 shares of the company's stock, valued at approximately $5,191,501. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Townsquare Media Stock Performance

Townsquare Media stock traded up $0.16 during mid-day trading on Friday, hitting $7.16. 87,440 shares of the company traded hands, compared to its average volume of 61,395. Townsquare Media, Inc. has a one year low of $6.47 and a one year high of $12.32. The stock has a market cap of $117.13 million, a price-to-earnings ratio of -2.64, a price-to-earnings-growth ratio of 0.58 and a beta of 1.11. The stock has a fifty day moving average price of $6.98 and a 200-day moving average price of $8.34.

Townsquare Media (NYSE:TSQ - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.05). The firm had revenue of $98.68 million during the quarter, compared to analyst estimates of $98.50 million. Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. Sell-side analysts predict that Townsquare Media, Inc. will post 1.07 EPS for the current year.

Townsquare Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.17%. Townsquare Media's payout ratio is -60.15%.

Institutional Investors Weigh In On Townsquare Media

A number of hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Townsquare Media by 3.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 46,895 shares of the company's stock worth $382,000 after acquiring an additional 1,500 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Townsquare Media by 2.1% in the 4th quarter. Sei Investments Co. now owns 72,426 shares of the company's stock worth $658,000 after acquiring an additional 1,513 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Townsquare Media by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 280,897 shares of the company's stock worth $2,554,000 after acquiring an additional 1,912 shares during the last quarter. Access Investment Management LLC lifted its holdings in shares of Townsquare Media by 0.5% in the 4th quarter. Access Investment Management LLC now owns 398,450 shares of the company's stock worth $3,622,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Townsquare Media by 56.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,296 shares of the company's stock worth $57,000 after acquiring an additional 2,259 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barrington Research dropped their target price on shares of Townsquare Media from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Wall Street Zen lowered shares of Townsquare Media from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Noble Financial reiterated a "buy" rating and set a $21.00 target price on shares of Townsquare Media in a research report on Friday, May 9th.

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.