Insider Selling: Townsquare Media, Inc. (NYSE:TSQ) COO Sells 4,591 Shares of Stock

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) COO Erik Hellum sold 4,591 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $7.08, for a total transaction of $32,504.28. Following the transaction, the chief operating officer now owns 733,948 shares of the company's stock, valued at $5,196,351.84. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, June 5th, Erik Hellum sold 3,104 shares of Townsquare Media stock. The stock was 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 transaction of $121,135.00.

Townsquare Media Stock Performance

Shares of NYSE:TSQ traded up $0.09 during midday trading 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 company has a market cap of $118.88 million, a P/E ratio of -2.68, a price-to-earnings-growth ratio of 0.58 and a beta of 1.11. Townsquare Media, Inc. has a 12-month low of $6.47 and a 12-month high of $12.32. The business's 50 day simple moving average is $6.98 and its 200 day simple moving average is $8.34.

Townsquare Media (NYSE:TSQ - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, meeting analysts' consensus estimates of ($0.05). The company had revenue of $98.68 million during the quarter, compared to the consensus estimate of $98.50 million. Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 11.00%. Townsquare Media's payout ratio is -60.15%.

Hedge Funds Weigh In On Townsquare Media

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its holdings in shares of Townsquare Media by 5.2% during the 4th quarter. Empowered Funds LLC now owns 56,634 shares of the company's stock worth $515,000 after acquiring an additional 2,804 shares during the period. Access Investment Management LLC increased its position in Townsquare Media by 0.5% during the fourth quarter. Access Investment Management LLC now owns 398,450 shares of the company's stock worth $3,622,000 after purchasing an additional 1,985 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Townsquare Media by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 40,730 shares of the company's stock worth $370,000 after purchasing an additional 3,319 shares during the period. Wealthfront Advisers LLC acquired a new position in Townsquare Media in the 4th quarter valued at about $69,000. Finally, American Century Companies Inc. boosted its holdings in Townsquare Media by 1.3% in the 4th quarter. American Century Companies Inc. now owns 699,787 shares of the company's stock valued at $6,361,000 after purchasing an additional 9,292 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Noble Financial reiterated a "buy" rating and set a $21.00 price objective on shares of Townsquare Media in a research note on Friday, May 9th. Barrington Research lowered their price target 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, Wall Street Zen cut 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.

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