Insider Selling: Townsquare Media, Inc. (NYSE:TSQ) COO Sells 3,972 Shares of Stock

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 3,972 shares of Townsquare Media stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.02, for a total value of $43,771.44. Following the completion of the sale, the chief operating officer now directly owns 701,998 shares in the company, valued at $7,736,017.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, March 26th, Erik Hellum sold 1,480 shares of Townsquare Media stock. The shares were sold at an average price of $10.90, for a total value of $16,132.00.
• On Friday, March 22nd, Erik Hellum sold 5,000 shares of Townsquare Media stock. The shares were sold at an average price of $10.95, for a total value of $54,750.00.
• On Wednesday, March 20th, Erik Hellum sold 3,380 shares of Townsquare Media stock. The shares were sold at an average price of $11.03, for a total value of $37,281.40.

Townsquare Media Stock Performance

Shares of NYSE TSQ traded up $0.04 during mid-day trading on Friday, hitting $10.98. The stock had a trading volume of 82,632 shares, compared to its average volume of 62,005. The company has a debt-to-equity ratio of 50.41, a quick ratio of 1.74 and a current ratio of 1.74. The company has a 50 day moving average of $10.77 and a two-hundred day moving average of $9.98. Townsquare Media, Inc. has a twelve month low of $7.89 and a twelve month high of $12.65. The firm has a market cap of $182.60 million, a PE ratio of -4.01, a PEG ratio of 0.65 and a beta of 1.37.

Townsquare Media Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a $0.198 dividend. This represents a $0.79 annualized dividend and a dividend yield of 7.21%. This is an increase from Townsquare Media’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, April 4th. Townsquare Media’s dividend payout ratio is presently -27.37%.

Analyst Upgrades and Downgrades

TSQ has been the subject of a number of analyst reports. Guggenheim upped their target price on Townsquare Media from $12.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Barrington Research restated an “outperform” rating and set a $17.00 target price on shares of Townsquare Media in a report on Friday, March 15th.

Institutional Investors Weigh In On Townsquare Media

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management acquired a new stake in Townsquare Media during the 3rd quarter worth about $140,000. Gabelli Funds LLC grew its position in Townsquare Media by 86.1% during the 3rd quarter. Gabelli Funds LLC now owns 59,000 shares of the company’s stock worth $514,000 after purchasing an additional 27,300 shares during the period. Janney Montgomery Scott LLC grew its position in Townsquare Media by 24.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 33,039 shares of the company’s stock worth $288,000 after purchasing an additional 6,553 shares during the period. Exchange Traded Concepts LLC grew its position in Townsquare Media by 57.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 29,552 shares of the company’s stock worth $312,000 after purchasing an additional 10,762 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in Townsquare Media by 204.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 44,281 shares of the company’s stock worth $386,000 after purchasing an additional 29,718 shares during the period. 71.69% of the stock is owned by institutional investors and hedge funds.

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.