Erik Hellum Sells 5,693 Shares of Townsquare Media (NYSE:TSQ) Stock

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 5,693 shares of the stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $5.06, for a total transaction of $28,806.58. Following the transaction, the chief operating officer owned 754,798 shares in the company, valued at approximately $3,819,277.88. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Townsquare Media Stock Performance

NYSE:TSQ opened at $5.10 on Friday. The firm has a 50-day simple moving average of $5.33 and a 200-day simple moving average of $6.49. Townsquare Media, Inc. has a one year low of $4.30 and a one year high of $10.23. The firm has a market cap of $83.95 million, a P/E ratio of 4.95, a P/E/G ratio of 1.26 and a beta of 0.88.

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

Townsquare Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 26th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 15.7%. The ex-dividend date is Monday, January 26th. Townsquare Media’s dividend payout ratio is 77.67%.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds have recently modified their holdings of TSQ. Raymond James Financial Inc. purchased a new position in shares of Townsquare Media in the 2nd quarter valued at approximately $33,000. AlphaCore Capital LLC purchased a new position in shares of Townsquare Media in the third quarter worth $69,000. Algert Global LLC acquired a new stake in shares of Townsquare Media during the third quarter worth $72,000. Hsbc Holdings PLC acquired a new stake in shares of Townsquare Media during the first quarter worth $86,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Townsquare Media during the second quarter valued at $101,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barrington Research cut their target price on Townsquare Media from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Wall Street Zen downgraded shares of Townsquare Media from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Townsquare Media in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.50.

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.