Erik Hellum Sells 4,591 Shares of Townsquare Media, Inc. (NYSE:TSQ) Stock

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 4,591 shares of Townsquare Media stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $7.08, for a total transaction of $32,504.28. Following the completion of the sale, the chief operating officer now owns 733,948 shares of the company’s stock, valued at $5,196,351.84. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

Townsquare Media Price Performance

TSQ opened at $7.27 on Tuesday. Townsquare Media, Inc. has a 1-year low of $6.47 and a 1-year high of $12.32. The company has a 50 day simple moving average of $6.96 and a two-hundred day simple moving average of $8.32. The firm has a market cap of $118.88 million, a P/E ratio of -2.68, a PEG ratio of 0.58 and a beta of 1.11.

Townsquare Media (NYSE:TSQ) last released its earnings results on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. The firm had revenue of $98.68 million for the quarter, compared to the consensus estimate of $98.50 million. Equities analysts anticipate that Townsquare Media, Inc. will post 1.07 earnings per share for the current year.

Townsquare Media Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 11.00%. The ex-dividend date is Friday, July 18th. Townsquare Media’s dividend payout ratio (DPR) is presently -60.15%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Townsquare Media

Hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP lifted its holdings in shares of Townsquare Media by 130.7% in the fourth quarter. Two Sigma Advisers LP now owns 103,600 shares of the company’s stock worth $942,000 after buying an additional 58,700 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Townsquare Media by 129.9% in the fourth quarter. Millennium Management LLC now owns 92,557 shares of the company’s stock worth $841,000 after buying an additional 52,299 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Townsquare Media by 25.1% in the fourth quarter. Northern Trust Corp now owns 144,847 shares of the company’s stock worth $1,317,000 after buying an additional 29,019 shares in the last quarter. Marshall Wace LLP purchased a new stake in Townsquare Media during the fourth quarter valued at $369,000. Finally, Russell Investments Group Ltd. raised its stake in Townsquare Media by 1,086.0% during the fourth quarter. Russell Investments Group Ltd. now owns 8,409 shares of the company’s stock valued at $76,000 after purchasing an additional 7,700 shares in the last quarter. Hedge funds and other 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.