Insider Selling: Townsquare Media, Inc. (NYSE:TSQ) CFO Sells $9,675,902.40 in Stock

Townsquare Media, Inc. (NYSE:TSQ) CFO Stuart B. Rosenstein sold 782,840 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $12.36, for a total transaction of $9,675,902.40. Following the completion of the sale, the chief financial officer now directly owns 492,663 shares in the company, valued at approximately $6,089,314.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Townsquare Media Trading Down 2.9 %

TSQ stock opened at $12.58 on Thursday. The business has a fifty day moving average of $11.02 and a 200-day moving average of $10.18. The company has a market cap of $209.24 million, a P/E ratio of -4.59, a PEG ratio of 0.71 and a beta of 1.37. Townsquare Media, Inc. has a twelve month low of $8.00 and a twelve month high of $13.57. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 50.41.

Townsquare Media (NYSE:TSQ) last issued its quarterly earnings results on Friday, March 15th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.26 by $0.08. Townsquare Media had a negative net margin of 9.90% and a positive return on equity of 55.40%. The company had revenue of $114.79 million during the quarter, compared to analysts’ expectations of $111.78 million. As a group, equities research analysts expect that Townsquare Media, Inc. will post 1.54 EPS for the current year.

Townsquare Media Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be given a dividend of $0.198 per share. This is a boost from Townsquare Media’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, April 4th. This represents a $0.79 annualized dividend and a dividend yield of 6.30%. Townsquare Media’s payout ratio is presently -28.83%.

Wall Street Analysts Forecast Growth

TSQ has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and issued a $17.00 price target on shares of Townsquare Media in a research report on Tuesday, April 2nd. Guggenheim increased their target price on shares of Townsquare Media from $12.00 to $12.50 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Noble Financial boosted their price target on shares of Townsquare Media from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, StockNews.com downgraded shares of Townsquare Media from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th.

Institutional Trading of Townsquare Media

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Townsquare Media by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 591,495 shares of the company’s stock valued at $6,246,000 after acquiring an additional 7,252 shares during the last quarter. Barclays PLC raised its position in shares of Townsquare Media by 109.5% during the 4th quarter. Barclays PLC now owns 26,676 shares of the company’s stock valued at $282,000 after acquiring an additional 13,944 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Townsquare Media by 12.3% during the 4th quarter. Nuveen Asset Management LLC now owns 16,995 shares of the company’s stock valued at $180,000 after acquiring an additional 1,863 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Townsquare Media by 0.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 362,847 shares of the company’s stock valued at $3,832,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Townsquare Media by 2.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 243,700 shares of the company’s stock valued at $2,573,000 after acquiring an additional 5,288 shares during the last quarter. Institutional investors own 71.69% of the company’s stock.

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.