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Erik Hellum, Chief Operating Officer of Townsquare Media, Inc. (NYSE:), has recently engaged in significant trading activity involving the company's stock. Hellum sold a total of 18,514 shares of Class A common stock for a profit of more than $200,000, according to the latest filing.
This transaction took place on two separate dates: March 21st and March 22nd. On the first day, Hellam disposed of his 13,514 shares at a weighted average price ranging from $10.81 to $11.10, giving an average price per share of $10.90. The next day, he sold an additional 5,000 shares at prices between $10.90 and $11.02, giving him a weighted average price of $10.95 per share. The total revenue from these transactions is approximately $202,052.
In addition to the sale, the COO acquired a total of 18,514 shares through the exercise of options at $6.25 per share, for a total value of $115,712. These transactions reflect the exercise of his COO's option to purchase Class A common stock that was fully vested and exercisable as of the transaction date.
Following these transactions, Hellam's holdings in Townsquare Media will be a mix of unrestricted shares, restricted stock units and fully vested options, as detailed in a footnote to the filing.
Investors and Townsquare Media fans will no doubt be keeping an eye on insider transactions like this. This is because these insider transactions can provide insight into management's confidence and the likely future performance of the company's stock.
Investment Pro Insights
Townsquare Media, Inc. (NYSE:TSQ) has some interesting financial trends that may be of interest to investors following recent insider trading activity by COO Eric Helm. According to InvestingPro, the company has been actively buying back its own shares, which could indicate management's confidence in the company's value and future potential. Additionally, Townsquare Media has a high shareholder return, which combines dividends and share buybacks, demonstrating its commitment to returning value to shareholders.
InvestingPro Data provides a snapshot of a company's financial health and market performance. It has a market capitalization of $180.47 million, which indicates that the company is not that large in the market. Although its negative P/E ratio of -4.09 indicates a lack of profitability over the past 12 months, analysts expect the company to be profitable this year. Additionally, the company's high dividend yield of 7.27% is noteworthy for income-oriented investors.
For those considering an investment in Townsquare Media, it's worth noting that the company pays out a significant amount of dividends to its shareholders. Additionally, according to InvestingPro Tips, the company's current assets exceed its short-term debt, highlighting its strong liquidity. It also trades at a high price/book value of 28.15x, which may be something value investors should consider. These insights allow investors to better assess Townsquare Media's investment potential amid recent insider trading activity.
For further insight, there is additional information investment pro tips It can help investors make more informed decisions.By using coupon code pro news 24readers can get an additional 10% off annual or biennial Pro and Pro+ subscriptions. This includes access to a comprehensive list of tips and real-time metrics from Townsquare Media and other companies.
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