Key Points
- Insider sale: Townsquare Media CAO Robert Worshek sold 34,299 shares at an average price of $6.62, totaling about $227,059. After the transaction, he still held 142,722 shares.
- Stock and earnings backdrop: TSQ shares were down 2.4% and traded around $6.60, while the company recently reported a quarterly EPS loss of $0.16, wider than the expected $0.12 loss. Revenue also came in slightly below estimates.
- Dividend and analyst sentiment: Townsquare declared a quarterly dividend of $0.20 per share, implying a 12.1% yield, and analysts currently have a Hold consensus with a $10.00 price target.
Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) CAO Robert Worshek sold 34,299 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $6.62, for a total transaction of $227,059.38. Following the sale, the chief accounting officer owned 142,722 shares of the company's stock, valued at approximately $944,819.64. The trade was a 19.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Townsquare Media Stock Down 2.4%
Shares of TSQ stock opened at $6.60 on Friday. The company has a 50 day moving average of $6.20 and a 200-day moving average of $5.99. Townsquare Media, Inc. has a 12-month low of $4.30 and a 12-month high of $9.31. The firm has a market cap of $112.81 million, a P/E ratio of -15.34, a PEG ratio of 1.44 and a beta of 1.21.
Townsquare Media (NYSE:TSQ - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%.The company had revenue of $96.10 million for the quarter, compared to analysts' expectations of $96.46 million. As a group, equities analysts expect that Townsquare Media, Inc. will post 0.39 EPS for the current year.
Townsquare Media Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 27th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, July 27th. This represents a $0.80 annualized dividend and a dividend yield of 12.1%. Townsquare Media's dividend payout ratio (DPR) is presently -186.05%.
Analyst Upgrades and Downgrades
TSQ has been the subject of several research analyst reports. Barrington Research restated an "outperform" rating and set a $10.00 price target on shares of Townsquare Media in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Townsquare Media from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings lowered shares of Townsquare Media from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Townsquare Media currently has a consensus rating of "Hold" and a consensus price target of $10.00.
Get Our Latest Report on Townsquare Media
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Townsquare Media in the 2nd quarter worth approximately $33,000. Crews Bank & Trust bought a new position in Townsquare Media in the 4th quarter worth approximately $26,000. AlphaCore Capital LLC bought a new position in Townsquare Media in the 3rd quarter worth approximately $69,000. Algert Global LLC bought a new position in Townsquare Media in the 3rd quarter worth approximately $72,000. Finally, Occudo Quantitative Strategies LP bought a new position in Townsquare Media in the 2nd quarter worth approximately $101,000. 71.69% of the stock is owned by institutional investors.
About Townsquare Media
(
Get Free Report)
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.
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