Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum Sells 10,000 Shares

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 10,000 shares of Townsquare Media stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $7.09, for a total transaction of $70,900.00. Following the sale, the chief operating officer now owns 723,948 shares of the company’s stock, valued at $5,132,791.32. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, June 6th, Erik Hellum sold 4,591 shares of Townsquare Media stock. The stock was sold at an average price of $7.08, for a total transaction of $32,504.28.
• On Thursday, June 5th, Erik Hellum sold 3,104 shares of Townsquare Media stock. The shares were sold at an average price of $7.00, for a total value of $21,728.00.
• On Tuesday, June 3rd, Erik Hellum sold 17,305 shares of Townsquare Media stock. The stock was sold at an average price of $7.00, for a total value of $121,135.00.

Townsquare Media Price Performance

Townsquare Media stock opened at $7.45 on Thursday. Townsquare Media, Inc. has a 52-week low of $6.47 and a 52-week high of $12.32. The firm has a market capitalization of $121.81 million, a price-to-earnings ratio of -5.60, a PEG ratio of 1.35 and a beta of 1.11. The company has a fifty day simple moving average of $6.95 and a 200-day simple moving average of $8.09.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Townsquare Media had a negative return on equity of 41.58% and a negative net margin of 3.41%. The business had revenue of $98.68 million for the quarter, compared to analysts’ expectations of $98.50 million. On average, research analysts anticipate that Townsquare Media, Inc. will post 1.07 EPS for the current fiscal year.

Townsquare Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 10.74%. Townsquare Media’s dividend payout ratio is presently -60.15%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Copeland Capital Management LLC boosted its stake in shares of Townsquare Media by 73.4% in the first quarter. Copeland Capital Management LLC now owns 6,753 shares of the company’s stock valued at $55,000 after purchasing an additional 2,859 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Townsquare Media by 56.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,296 shares of the company’s stock valued at $57,000 after purchasing an additional 2,259 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Townsquare Media during the fourth quarter worth approximately $69,000. Russell Investments Group Ltd. raised its holdings in shares of Townsquare Media by 1,086.0% in the fourth quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company’s stock valued at $76,000 after buying an additional 7,700 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Townsquare Media during the 1st quarter worth approximately $86,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Noble Financial restated a “buy” rating and issued a $21.00 price objective on shares of Townsquare Media in a report on Friday, May 9th. Barrington Research cut their price objective on shares of Townsquare Media from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen cut Townsquare Media from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 16th.

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.