Townsquare Media (NYSE:TSQ) CAO Sells $227,059.38 in Stock

Townsquare Media, Inc. (NYSE:TSQ) CAO Robert Worshek sold 34,299 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $6.62, for a total transaction of $227,059.38. Following the completion of the transaction, the chief accounting officer directly owned 142,722 shares in the company, valued at $944,819.64. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Townsquare Media Stock Performance

TSQ traded down $0.17 during trading on Friday, hitting $6.60. The stock had a trading volume of 36,038 shares, compared to its average volume of 152,819. Townsquare Media, Inc. has a twelve month low of $4.30 and a twelve month high of $9.31. The firm has a market capitalization of $112.77 million, a P/E ratio of -15.34, a PEG ratio of 1.44 and a beta of 1.21. The company’s 50-day moving average price is $6.17 and its 200 day moving average price is $5.99.

Townsquare Media (NYSE:TSQ) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%.The company had revenue of $96.10 million for the quarter, compared to analyst estimates of $96.46 million. As a group, equities analysts expect that Townsquare Media, Inc. will post 0.39 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 Monday, August 3rd. Stockholders of record on Monday, July 27th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.1%. Townsquare Media’s dividend payout ratio is -186.05%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSQ. Wall Street Zen raised shares of Townsquare Media from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Finally, Barrington Research reiterated an “outperform” rating and issued a $10.00 price objective on shares of Townsquare Media in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in Townsquare Media by 4.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 48,152 shares of the company’s stock valued at $248,000 after purchasing an additional 2,049 shares in the last quarter. Marshall Wace LLP lifted its holdings in Townsquare Media by 6.3% in the 4th quarter. Marshall Wace LLP now owns 37,953 shares of the company’s stock valued at $195,000 after purchasing an additional 2,256 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Townsquare Media by 3.8% during the 1st quarter. Gabelli Funds LLC now owns 63,300 shares of the company’s stock worth $344,000 after acquiring an additional 2,300 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Townsquare Media by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock worth $249,000 after acquiring an additional 2,319 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of 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 currently owned by hedge funds and other institutional investors.

About Townsquare Media

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.