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

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 6,522 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $5.57, for a total transaction of $36,327.54. Following the completion of the transaction, the chief operating officer directly owned 969,648 shares of the company’s stock, valued at approximately $5,400,939.36. This represents a 0.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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 value of $28,806.58.

Townsquare Media Stock Performance

Shares of TSQ opened at $6.09 on Friday. The stock has a 50-day moving average of $5.16 and a two-hundred day moving average of $6.28. The stock has a market cap of $100.24 million, a P/E ratio of 5.91, a P/E/G ratio of 0.76 and a beta of 0.88. Townsquare Media, Inc. has a one year low of $4.30 and a one year high of $9.38.

Townsquare Media (NYSE:TSQ) last announced 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 business had revenue of $106.76 million for the quarter, compared to analyst estimates of $107.96 million. Analysts predict that Townsquare Media, Inc. will post 1.07 EPS for the current fiscal year.

Townsquare Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 26th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 13.1%. The ex-dividend date is Monday, January 26th. Townsquare Media’s payout ratio is presently 77.67%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Townsquare Media in the fourth quarter worth about $26,000. Raymond James Financial Inc. acquired a new stake in shares of Townsquare Media during the 2nd quarter valued at about $33,000. AlphaCore Capital LLC purchased a new position in shares of Townsquare Media in the 3rd quarter valued at about $69,000. Algert Global LLC acquired a new position in Townsquare Media in the 3rd quarter worth about $72,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Townsquare Media in the 2nd quarter worth about $101,000. Hedge funds and other 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.