Claire Marie Yenicay, Executive Vice President of Investor Relations and Corporate Communications at Townsquare Media, Inc. (NYSE:TSQ), recently divested 500 shares of Class A Common Stock. The small-cap media company, currently valued at $150.65 million, has been trading near its 52-week low of $9.48, while offering shareholders a substantial 8.18% dividend yield. According to InvestingPro analysis, management has been actively buying back shares despite recent insider sales. The shares were sold at a weighted average price ranging from $9.85 to $9.86, totaling approximately $4,925. Following this transaction, Yenicay holds 212,393 shares, which include 34,156 shares of Class A common stock and 178,237 fully vested stock options. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro subscribers can access detailed Pro Research Reports covering 1,400+ US stocks, including TSQ's complete insider transaction history and valuation metrics.
In other recent news, radio broadcasting company Townsquare Media has been making strategic moves to manage its capital and return value to shareholders. The company recently announced a new stock repurchase plan, authorizing the repurchase of up to $50 million of its issued and outstanding Class A common stock over the next three years. This follows the company's previous repurchase activities, which saw approximately $40.5 million worth of stock bought back over the past three years.
In addition to this, Townsquare Media reported a slight increase in net revenue to $115.3 million in its Q3 2024 earnings call, with digital revenue accounting for 52% of the total. The company's digital advertising segment, which grew by 5%, and programmatic advertising, which increased by 10%, were key growth drivers. Despite a decline in national broadcast advertising, Townsquare Interactive is projected to show year-over-year revenue growth in Q4.
The company also announced plans for debt refinancing in early 2025, anticipating favorable interest rate shifts. These recent developments suggest a focus on financial flexibility and digital growth, with a partnership with SummitMedia for a white-label digital programmatic advertising solution also expected to ramp up in 2025.
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