Erik Hellum Sells 3,104 Shares of Townsquare Media, Inc. (NYSE:TSQ) Stock

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) COO Erik Hellum sold 3,104 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $7.00, for a total value of $21,728.00. Following the transaction, the chief operating officer now owns 738,539 shares of the company's stock, valued at $5,169,773. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $7.08, for a total value of $32,504.28.
• 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 transaction of $121,135.00.

Townsquare Media Trading Down 0.3%

NYSE TSQ traded down $0.02 during trading hours on Thursday, hitting $6.98. 104,386 shares of the company's stock were exchanged, compared to its average volume of 62,710. The firm has a market cap of $114.14 million, a price-to-earnings ratio of -2.58, a PEG ratio of 0.58 and a beta of 1.11. The stock has a 50-day simple moving average of $6.94 and a 200 day simple moving average of $8.30. Townsquare Media, Inc. has a 1-year low of $6.47 and a 1-year high of $12.32.

Townsquare Media (NYSE:TSQ - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. The business had revenue of $98.68 million for the quarter, compared to analyst estimates of $98.50 million. On average, 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 11.46%. Townsquare Media's dividend payout ratio (DPR) is currently -60.15%.

Institutional Investors Weigh In On Townsquare Media

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Townsquare Media by 23.2% during the 1st quarter. Rhumbline Advisers now owns 18,036 shares of the company's stock worth $147,000 after acquiring an additional 3,393 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Townsquare Media by 52.7% during the first quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company's stock worth $2,212,000 after purchasing an additional 93,753 shares during the last quarter. Ancora Advisors LLC purchased a new position in Townsquare Media during the first quarter worth about $122,000. Trexquant Investment LP grew its position in Townsquare Media by 96.4% in the 1st quarter. Trexquant Investment LP now owns 55,679 shares of the company's stock worth $453,000 after purchasing an additional 27,326 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Townsquare Media by 5.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 374,032 shares of the company's stock valued at $3,045,000 after buying an additional 20,525 shares during the last quarter. 71.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TSQ shares. Barrington Research reduced their price objective on shares of Townsquare Media from $15.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Noble Financial restated a "buy" rating and issued a $21.00 target price on shares of Townsquare Media in a report on Friday, May 9th. Finally, Wall Street Zen cut shares of Townsquare Media from a "strong-buy" rating to a "hold" rating in a research report 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.