Insider Selling: Townsquare Media, Inc. (NYSE:TSQ) COO Sells 3,104 Shares of Stock

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) COO Erik Hellum sold 3,104 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $7.00, for a total value of $21,728.00. Following the completion of the sale, the chief operating officer now directly owns 738,539 shares of the company's stock, valued at approximately $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 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 Tuesday, June 3rd, Erik Hellum sold 17,305 shares of Townsquare Media stock. The shares were sold at an average price of $7.00, for a total transaction of $121,135.00.

Townsquare Media Stock Up 1.3%

Shares of TSQ traded up $0.09 on Monday, hitting $7.27. The company's stock had a trading volume of 129,909 shares, compared to its average volume of 61,669. The firm's fifty day moving average price is $6.98 and its 200-day moving average price is $8.34. Townsquare Media, Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $12.32. The firm has a market capitalization of $118.88 million, a price-to-earnings ratio of -2.68, a P/E/G ratio of 0.58 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, meeting analysts' consensus estimates of ($0.05). Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. The firm had revenue of $98.68 million for the quarter, compared to analyst estimates of $98.50 million. As a group, equities analysts predict that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Announces Dividend

The business also recently announced 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. This represents a $0.80 dividend on an annualized basis and a yield of 11.00%. The ex-dividend date of this dividend is Friday, July 18th. Townsquare Media's payout ratio is presently -60.15%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in Townsquare Media by 52.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company's stock worth $2,212,000 after acquiring an additional 93,753 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Townsquare Media by 130.7% during the fourth quarter. Two Sigma Advisers LP now owns 103,600 shares of the company's stock worth $942,000 after purchasing an additional 58,700 shares during the last quarter. Millennium Management LLC grew its position in Townsquare Media by 129.9% in the fourth quarter. Millennium Management LLC now owns 92,557 shares of the company's stock valued at $841,000 after purchasing an additional 52,299 shares in the last quarter. Marshall Wace LLP acquired a new stake in Townsquare Media in the 4th quarter valued at $369,000. Finally, Northern Trust Corp increased its stake in Townsquare Media by 25.1% in the 4th quarter. Northern Trust Corp now owns 144,847 shares of the company's stock valued at $1,317,000 after buying an additional 29,019 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TSQ. 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. Barrington Research dropped their price objective on Townsquare Media from $15.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Finally, Noble Financial reiterated a "buy" rating and set a $21.00 target price on shares of Townsquare Media in a report on Friday, May 9th.

Townsquare Media Company Profile

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.

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