Townsquare Media (NYSE:TSQ) CEO Bill Wilson Sells 126,744 Shares of Stock

Key Points

• CEO Bill Wilson sold 126,744 Townsquare Media shares at an average price of $5.61, generating approximately $711,034. He retained 3.0 million shares, reducing his stake by 4.05%; he also sold 21,420 shares the following day.
• Townsquare Media shares rose 2.5% to $5.65, while the company’s latest quarterly earnings of $0.21 per share exceeded estimates. Revenue of $114 million was slightly below expectations, and the company continues to report negative net margins.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 14.2% yield. Analyst sentiment remains cautious, with a consensus “Reduce” rating despite a $10 average price target.

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) CEO Bill Wilson sold 126,744 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $5.61, for a total value of $711,033.84. Following the sale, the chief executive officer owned 3,000,481 shares of the company's stock, valued at approximately $16,832,698.41. The trade was a 4.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bill Wilson also recently made the following trade(s):

• On Wednesday, August 12th, Bill Wilson sold 21,420 shares of Townsquare Media stock. The shares were sold at an average price of $5.54, for a total value of $118,666.80.

Townsquare Media Stock Up 2.5%

Townsquare Media stock traded up $0.14 during mid-day trading on Wednesday, hitting $5.65. The company had a trading volume of 99,409 shares, compared to its average volume of 126,037. The stock has a market cap of $96.61 million, a price-to-earnings ratio of -1.96, a PEG ratio of 24.79 and a beta of 1.22. Townsquare Media, Inc. has a 1 year low of $4.30 and a 1 year high of $7.97. The business has a fifty day moving average of $6.50 and a 200 day moving average of $6.49.

Townsquare Media (NYSE:TSQ - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. Townsquare Media had a negative net margin of 11.82% and a negative return on equity of 5.59%. The company had revenue of $114.00 million for the quarter, compared to analysts' expectations of $114.74 million. Equities analysts anticipate that Townsquare Media, Inc. will post 0.02 earnings per share for the current year.

Townsquare Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 26th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 14.2%. The ex-dividend date is Monday, October 26th. Townsquare Media's dividend payout ratio (DPR) is currently -27.78%.

Institutional Investors Weigh In On Townsquare Media

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Townsquare Media during the second quarter worth about $33,000. Algert Global LLC purchased a new stake in Townsquare Media during the 3rd quarter valued at approximately $72,000. Occudo Quantitative Strategies LP purchased a new stake in Townsquare Media during the 2nd quarter valued at approximately $101,000. XTX Topco Ltd acquired a new stake in Townsquare Media during the 4th quarter worth approximately $83,000. Finally, Rhumbline Advisers lifted its position 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 period. 71.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSQ has been the subject of several research analyst reports. Barrington Research restated an "outperform" rating and issued a $10.00 price objective on shares of Townsquare Media in a research note on Monday, May 11th. Wall Street Zen cut Townsquare Media from a "buy" rating to a "hold" rating in a research report on Saturday. Zacks Research downgraded Townsquare Media from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Finally, Weiss Ratings cut Townsquare Media from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $10.00.

Townsquare Media Company Profile

Townsquare Media, Inc NYSE: TSQ is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.

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