Townsquare Media, Inc. (NYSE:TSQ) has reported that COO Erik Hellum sold company shares worth approximately $39,811, with individual transactions ranging between $11.00 and $11.10 per share. The sales took place on March 19 and 20, according to the latest SEC filings.
The transactions included the sale of 229 shares on March 19 at a weighted average price of $11.05 and the sale of 3,380 shares on March 20 at prices ranging from $11.00 to $11.06. The filings also reported purchases by Hellum, with 229 shares acquired at $8.74 each on March 19 and 3,380 shares on March 20 at the same price, totaling $31,542.
The reported sales and purchases are part of the standard disclosures required for company insiders. Following these transactions, Hellum's direct ownership in Townsquare Media includes a mix of common stock, restricted stock units, and vested options.
Investors often keep an eye on insider transactions as they can provide insights into executives' perspectives on the company's stock value. Townsquare Media specializes in radio broadcasting stations and is incorporated in Delaware.
The SEC filing also detailed the exercise of options for derivative securities, which are not reflected in the total transaction value for stock sales. These option exercises are a routine part of executive compensation and ownership strategies and do not represent direct buy or sell transactions of the common stock itself.
For further information on the specifics of these transactions, interested parties can refer to the SEC's Form 4 filing.
InvestingPro Insights
As Townsquare Media, Inc. (NYSE:TSQ) experiences insider trading activity, it's worth noting the company's financial health and market performance to better understand the context of these transactions. According to InvestingPro real-time data, Townsquare Media has a market capitalization of $180.8 million and is trading at a high Price / Book multiple of 28.21, as of the last twelve months ending Q4 2023. Despite a negative P/E ratio of -4.06 indicating recent unprofitability, analysts predict that the company will return to profitability this year.
Investors considering Townsquare Media will find that the company pays a significant dividend to shareholders, with a current yield of 7.16%. This, coupled with a strong return over the last five years, may be attractive to those looking for income-generating investments. Notably, management's actions, such as aggressive share buybacks, signal confidence in the company's future, as reflected in the high shareholder yield. While revenue has seen a slight decline in the past year, with a -1.91% growth in the last twelve months as of Q4 2023, the company's liquid assets exceed short-term obligations, suggesting financial stability.
To gain further insights into Townsquare Media's performance and strategic moves, interested investors can explore additional InvestingPro Tips available on the platform. Currently, there are 9 more tips listed on InvestingPro, which could provide a deeper dive into the company's financial nuances. To access these insights, you can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment research with valuable data and expert analysis.
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