Townsquare Media EVP Claire Yenicay sells shares value $46,283

Claire Yenicay, Government Vice President of Investor Relations and Company Communications at Townsquare Media Inc. (NYSE:TSQ), just lately bought shares of the corporate’s Class A standard inventory. The transactions, which befell on December 30 and 31, 2024, concerned the sale of 5,020 shares, totaling roughly $46,283. The sale occurred as TSQ trades close to its InvestingPro Honest Worth, whereas providing a sexy 8.3% dividend yield. Notably, analysts have set value targets starting from $17 to $21, suggesting potential upside. The shares had been bought at costs starting from $9.16 to $9.22 per share.

Following these transactions, Yenicay holds 214,933 shares immediately. These embrace 17,946 shares of Class A standard inventory with out vesting or switch restrictions and 196,987 choices to buy Class A standard inventory which can be absolutely vested and unrestricted.

In different latest information, Townsquare Media, a radio broadcasting firm, has made notable strides in its monetary methods and total efficiency. The corporate just lately introduced a brand new inventory repurchase plan, authorizing the repurchase of as much as $50 million of its issued and excellent Class A standard inventory over the subsequent three years. This follows their earlier repurchase actions, which noticed roughly $40.5 million value of inventory purchased again over the past three years.

In its Q3 2024 earnings name, Townsquare Media reported a slight enhance in web income to $115.3 million, with digital income accounting for 52% of the overall. The corporate’s digital promoting phase grew by 5%, and programmatic promoting elevated by 10%. Regardless of a decline in nationwide broadcast promoting, Townsquare Interactive is projected to point out year-over-year income progress in This fall.

The corporate additionally revealed plans for debt refinancing in early 2025, anticipating favorable rate of interest shifts. This improvement accompanies a powerful money movement that led to $24 million in share buybacks and $36 million in bond buybacks. Moreover, a partnership with SummitMedia for a white-label digital programmatic promoting resolution is predicted to ramp up in 2025. These are latest developments that underscore the corporate’s dedication to monetary flexibility and progress within the digital house.

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