Insider Selling: Townsquare Media (NYSE:TSQ) CAO Sells $227,059.38 in Stock

Townsquare Media, Inc. (NYSE:TSQ) CAO Robert Worshek sold 34,299 shares of Townsquare Media stock in a transaction 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 transaction, the chief accounting officer directly owned 142,722 shares of the company’s stock, valued at approximately $944,819.64. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Townsquare Media Price Performance

TSQ stock opened at $6.60 on Monday. The company has a fifty day moving average price of $6.20 and a two-hundred day moving average price of $5.99. The stock has a market cap of $112.77 million, a price-to-earnings ratio of -15.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. Townsquare Media, Inc. has a one year low of $4.30 and a one year high of $9.31.

Townsquare Media (NYSE:TSQ) last announced its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $96.10 million during the quarter, compared to the consensus estimate of $96.46 million. Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. Research analysts anticipate that Townsquare Media, Inc. will post 0.39 EPS for the current fiscal year.

Townsquare Media Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 27th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend is Monday, July 27th. Townsquare Media’s payout ratio is presently -186.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TSQ. Teton Advisors LLC acquired a new position in Townsquare Media in the third quarter valued at about $780,000. Goldman Sachs Group Inc. boosted its holdings in shares of Townsquare Media by 52.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 271,693 shares of the company’s stock valued at $2,212,000 after purchasing an additional 93,753 shares in the last quarter. Beck Mack & Oliver LLC boosted its holdings in shares of Townsquare Media by 8.6% in the 4th quarter. Beck Mack & Oliver LLC now owns 1,073,600 shares of the company’s stock valued at $5,518,000 after purchasing an additional 85,000 shares in the last quarter. Daytona Street Capital LLC bought a new position in shares of Townsquare Media in the 4th quarter valued at $283,000. Finally, CastleKnight Management LP bought a new position in shares of Townsquare Media in the 4th quarter valued at $209,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TSQ shares. Wall Street Zen raised shares of Townsquare Media from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings cut shares of Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Finally, Barrington Research reissued an “outperform” rating and issued a $10.00 target price on shares of Townsquare Media in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Townsquare Media has an average rating of “Hold” and an average 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.