Townsquare Media (NYSE:TSQ) COO Erik Hellum Sells 6,522 Shares

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 6,522 shares of Townsquare Media stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $5.57, for a total transaction of $36,327.54. Following the transaction, the chief operating officer directly owned 969,648 shares of the company’s stock, valued at approximately $5,400,939.36. This trade represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, January 16th, Erik Hellum sold 7,437 shares of Townsquare Media stock. The shares were sold at an average price of $5.54, for a total transaction of $41,200.98.
• On Monday, December 29th, Erik Hellum sold 5,693 shares of Townsquare Media stock. The shares were sold at an average price of $5.06, for a total transaction of $28,806.58.

Townsquare Media Stock Performance

Shares of TSQ traded up $0.16 during mid-day trading on Wednesday, reaching $5.76. The company had a trading volume of 113,172 shares, compared to its average volume of 73,221. The company has a market capitalization of $94.82 million, a price-to-earnings ratio of 5.59, a price-to-earnings-growth ratio of 0.72 and a beta of 0.88. The firm has a 50-day moving average price of $5.14 and a 200 day moving average price of $6.28. Townsquare Media, Inc. has a 52 week low of $4.30 and a 52 week high of $9.38.

Townsquare Media (NYSE:TSQ) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Townsquare Media had a negative return on equity of 47.95% and a net margin of 4.27%.The company had revenue of $106.76 million during the quarter, compared to analyst estimates of $107.96 million. As a group, research analysts forecast that Townsquare Media, Inc. will post 1.07 earnings per share for the current fiscal year.

Townsquare Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 26th will be paid a $0.20 dividend. The ex-dividend date is Monday, January 26th. This represents a $0.80 dividend on an annualized basis and a yield of 13.9%. Townsquare Media’s payout ratio is presently 77.67%.

Analysts Set New Price Targets

Several brokerages have issued reports on TSQ. Barrington Research decreased their target price on shares of Townsquare Media from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Wall Street Zen lowered shares of Townsquare Media from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Townsquare Media in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Townsquare Media presently has an average rating of “Hold” and a consensus price target of $16.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gabelli Funds LLC boosted its holdings in Townsquare Media by 4.9% in the second quarter. Gabelli Funds LLC now owns 57,500 shares of the company’s stock worth $455,000 after purchasing an additional 2,700 shares during the last quarter. 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 valued at $147,000 after buying an additional 3,393 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Townsquare Media in the 2nd quarter worth $33,000. Crews Bank & Trust purchased a new position in shares of Townsquare Media in the 4th quarter worth $26,000. Finally, Boyar Asset Management Inc. boosted its position in Townsquare Media by 17.7% in the second quarter. Boyar Asset Management Inc. now owns 42,540 shares of the company’s stock worth $336,000 after purchasing an additional 6,387 shares during the last quarter. Institutional investors own 71.69% of the company’s stock.

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.