Key Points
- COO Erik Hellum sold 35,000 shares of Townsquare Media stock on June 9 at an average price of $6.44, totaling $225,400. After the sale, he still held 914,542 shares.
- Townsquare Media recently missed earnings expectations, reporting a quarterly loss of $0.16 per share versus the expected $0.12 loss, while revenue came in slightly below estimates at $96.10 million.
- The company announced a quarterly dividend of $0.20 per share, payable on August 3, implying a high annualized yield of 12.3% based on the article’s figures.
Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) COO Erik Hellum sold 35,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total transaction of $225,400.00. Following the completion of the sale, the chief operating officer directly owned 914,542 shares of the company's stock, valued at approximately $5,889,650.48. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Townsquare Media Price Performance
Townsquare Media stock opened at $6.51 on Friday. The firm has a 50 day simple moving average of $6.44 and a 200-day simple moving average of $6.09. Townsquare Media, Inc. has a 1-year low of $4.30 and a 1-year high of $9.31. The stock has a market cap of $111.32 million, a price-to-earnings ratio of -15.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.21.
Townsquare Media (NYSE:TSQ - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. The firm had revenue of $96.10 million during the quarter, compared to analysts' expectations of $96.46 million. Equities analysts expect that Townsquare Media, Inc. will post 0.21 earnings per share for the current fiscal year.
Townsquare Media Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 27th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 12.3%. The ex-dividend date is Monday, July 27th. Townsquare Media's dividend payout ratio is currently -186.05%.
Analyst Ratings Changes
Several equities analysts have recently commented on TSQ shares. Barrington Research restated an "outperform" rating and issued a $10.00 price objective on shares of Townsquare Media in a report on Monday, May 11th. Weiss Ratings lowered shares of Townsquare Media from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Townsquare Media from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $10.00.
View Our Latest Stock Analysis on Townsquare Media
Institutional Investors Weigh In On Townsquare Media
Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Townsquare Media during the 2nd quarter worth approximately $33,000. Crews Bank & Trust acquired a new stake in Townsquare Media during the 4th quarter worth approximately $26,000. AlphaCore Capital LLC acquired a new stake in Townsquare Media during the 3rd quarter worth approximately $69,000. Algert Global LLC acquired a new stake in Townsquare Media during the 3rd quarter worth approximately $72,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Townsquare Media during the 2nd quarter worth approximately $101,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.
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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