Insider Selling: Townsquare Media (NYSE:TSQ) CEO Sells $711,033.84 in Stock

Townsquare Media, Inc. (NYSE:TSQ) CEO Bill Wilson sold 126,744 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $5.61, for a total value of $711,033.84. Following the sale, the chief executive officer owned 3,000,481 shares of the company’s stock, 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 filing with the SEC, 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 value of $118,666.80.

Townsquare Media Price Performance

NYSE TSQ opened at $5.72 on Friday. The company has a market cap of $97.79 million, a PE ratio of -1.99, a price-to-earnings-growth ratio of 23.75 and a beta of 1.22. The stock’s 50 day simple moving average is $6.45 and its 200-day simple moving average is $6.48. Townsquare Media, Inc. has a 1-year low of $4.30 and a 1-year high of $7.97.

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

Townsquare Media Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 26th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 14.0%. The ex-dividend date of this dividend is Monday, October 26th. Townsquare Media’s payout ratio is -27.78%.

Institutional Trading of Townsquare Media

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Townsquare Media in the 2nd quarter worth $33,000. Algert Global LLC acquired a new position in shares of Townsquare Media during the 3rd quarter valued at about $72,000. Occudo Quantitative Strategies LP acquired a new position in shares of Townsquare Media during the 2nd quarter valued at about $101,000. XTX Topco Ltd acquired a new position in shares of Townsquare Media during the 4th quarter valued at about $83,000. Finally, Rhumbline Advisers grew its holdings in shares of Townsquare Media by 23.2% in the first quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock valued at $147,000 after purchasing an additional 3,393 shares during the period. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TSQ shares. Wall Street Zen cut shares of Townsquare Media from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research downgraded shares of Townsquare Media from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings lowered shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Finally, Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Townsquare Media in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus 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.