Bill Wilson Sells 126,744 Shares of Townsquare Media (NYSE:TSQ) Stock

Townsquare Media, Inc. (NYSE:TSQ) CEO Bill Wilson sold 126,744 shares of Townsquare Media stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $5.61, for a total transaction of $711,033.84. Following the completion of the transaction, the chief executive officer owned 3,000,481 shares in the company, valued at approximately $16,832,698.41. This trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Bill Wilson also recently made the following trade(s):

• On Wednesday, August 12th, Bill Wilson sold 21,420 shares of Townsquare Media stock. The shares were sold at an average price of $5.54, for a total transaction of $118,666.80.

Townsquare Media Stock Performance

Townsquare Media stock traded up $0.14 during trading hours on Wednesday, reaching $5.65. 99,409 shares of the stock were exchanged, compared to its average volume of 126,037. Townsquare Media, Inc. has a 52-week low of $4.30 and a 52-week high of $7.97. The stock has a market cap of $96.61 million, a P/E ratio of -1.96, a P/E/G ratio of 24.79 and a beta of 1.22. The firm’s 50 day moving average is $6.50 and its 200 day moving average is $6.49.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Thursday, August 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Townsquare Media had a negative net margin of 11.82% and a negative return on equity of 5.59%. The business had revenue of $114.00 million for the quarter, compared to the consensus estimate of $114.74 million. Equities research analysts expect that Townsquare Media, Inc. will post 0.02 EPS for the current fiscal year.

Townsquare Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 26th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 14.2%. The ex-dividend date of this dividend is Monday, October 26th. Townsquare Media’s payout ratio is currently -27.78%.

Hedge Funds Weigh In On Townsquare Media

Several hedge funds have recently bought and sold shares of TSQ. Goldman Sachs Group Inc. grew its holdings in Townsquare Media by 52.7% in the first quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock valued at $2,212,000 after purchasing an additional 93,753 shares during the last quarter. Rhumbline Advisers increased its holdings in Townsquare Media by 23.2% during the 1st quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock valued at $147,000 after acquiring an additional 3,393 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Townsquare Media in the second quarter valued at about $240,000. Marshall Wace LLP grew its position in shares of Townsquare Media by 63.1% in the second quarter. Marshall Wace LLP now owns 82,107 shares of the company’s stock valued at $649,000 after purchasing an additional 31,773 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Townsquare Media by 4.9% during the 2nd quarter. Gabelli Funds LLC now owns 57,500 shares of the company’s stock worth $455,000 after purchasing an additional 2,700 shares in the last quarter. 71.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSQ. Weiss Ratings downgraded Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Barrington Research reissued an “outperform” rating and issued a $10.00 price target on shares of Townsquare Media in a report on Monday, May 11th. Zacks Research downgraded Townsquare Media from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen lowered Townsquare Media from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $10.00.

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.