Townsquare Media EVP Scott Schatz sells $20,123 in inventory

Scott Schatz, Government Vice President of Finance Operations and Expertise at Townsquare Media, Inc. (NYSE:TSQ), just lately offered shares of the corporate’s Class A typical inventory. In keeping with a Type 4 submitting with the Securities and Trade Fee, Schatz offered a complete of two,166 shares over two days at costs starting from $9.10 to $9.30 per share, amounting to a complete transaction worth of $20,123. The inventory at the moment trades at $9.56, with analysts setting value targets between $17 and $21. InvestingPro information reveals the corporate presents a gorgeous 8.26% dividend yield.

Following these transactions, Schatz holds 29,200 shares of Class A typical inventory. Moreover, he possesses 218,833 shares of Class B widespread inventory, together with 21,846 shares not topic to vesting or switch restrictions and 196,987 totally vested choices to buy Class B widespread inventory. These gross sales and holdings replicate Schatz’s present funding place in Townsquare Media, which has a market capitalization of $148.32 million and maintains a “Honest” monetary well being rating in line with InvestingPro, which presents 7 extra key insights in regards to the firm’s efficiency and outlook.

In different current information, Townsquare Media has introduced a brand new $50 million inventory repurchase plan, changing the same plan set to run out in 2024. The corporate has additionally reported slight development in web income to $115.3 million in its Q3 2024 earnings name, with digital income accounting for over half of the overall. The digital promoting section, which grew by 5%, and programmatic promoting, which elevated by 10%, had been key development drivers. Regardless of a decline in nationwide broadcast promoting, Townsquare Interactive is projected to indicate year-over-year income development in This fall.

The corporate additionally introduced plans for debt refinancing in early 2025, anticipating favorable rate of interest shifts. This improvement comes alongside a robust money circulation that led to $24 million in share buybacks and $36 million in bond buybacks. A partnership with SummitMedia for a white-label digital programmatic promoting resolution can also be anticipated to ramp up in 2025. These are the current developments in Townsquare Media’s monetary technique and operations.

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