Erik Hellum Sells 9,223 Shares of Townsquare Media, Inc. (NYSE:TSQ) Stock

Townsquare Media, Inc. (NYSE:TSQ) COO Erik Hellum sold 9,223 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $10.30, for a total value of $94,996.90. Following the completion of the sale, the chief operating officer now owns 607,680 shares of the company’s stock, valued at $6,259,104. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Townsquare Media Stock Performance

Shares of Townsquare Media stock opened at $10.09 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 271.80. The stock’s fifty day moving average is $10.64 and its two-hundred day moving average is $11.09. Townsquare Media, Inc. has a 52 week low of $8.00 and a 52 week high of $13.57. The company has a market capitalization of $155.29 million, a PE ratio of -3.97, a price-to-earnings-growth ratio of 0.88 and a beta of 1.36.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Wednesday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.28). The company had revenue of $118.23 million for the quarter, compared to analysts’ expectations of $117.99 million. Townsquare Media had a negative net margin of 19.53% and a negative return on equity of 171.57%. As a group, analysts expect that Townsquare Media, Inc. will post 0.97 earnings per share for the current year.

Townsquare Media Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 7.83%. The ex-dividend date is Tuesday, October 15th. Townsquare Media’s dividend payout ratio (DPR) is presently -31.10%.

Institutional Trading of Townsquare Media

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Townsquare Media by 2.0% in the first quarter. Vanguard Group Inc. now owns 603,568 shares of the company’s stock worth $6,627,000 after purchasing an additional 12,073 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Townsquare Media by 3.9% in the 2nd quarter. Renaissance Technologies LLC now owns 482,352 shares of the company’s stock worth $5,287,000 after buying an additional 17,900 shares during the period. Access Investment Management LLC grew its position in shares of Townsquare Media by 0.5% during the 2nd quarter. Access Investment Management LLC now owns 396,025 shares of the company’s stock worth $4,340,000 after buying an additional 2,140 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Townsquare Media by 4.4% during the second quarter. Bank of New York Mellon Corp now owns 160,469 shares of the company’s stock valued at $1,759,000 after buying an additional 6,768 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Townsquare Media by 12.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 75,065 shares of the company’s stock valued at $824,000 after acquiring an additional 8,079 shares in the last quarter. Institutional investors own 71.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSQ. StockNews.com downgraded shares of Townsquare Media from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Barrington Research reissued an “outperform” rating and issued a $17.00 price objective on shares of Townsquare Media in a research report on Monday, August 12th.

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.