OUTFRONT Media Inc. (NYSE:OUT – Get Free Report) EVP Matthew Siegel sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $27.84, for a total transaction of $696,000.00. Following the transaction, the executive vice president owned 264,925 shares of the company’s stock, valued at $7,375,512. This represents a 8.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
OUTFRONT Media Trading Down 0.3%
Shares of NYSE:OUT opened at $28.62 on Monday. The company has a market cap of $5.04 billion, a PE ratio of 20.59 and a beta of 1.53. The company’s 50-day moving average price is $29.64 and its 200 day moving average price is $30.42. OUTFRONT Media Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $34.96. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.50.
OUTFRONT Media (NYSE:OUT – Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The firm had revenue of $522.50 million during the quarter, compared to analyst estimates of $509.61 million. During the same period in the previous year, the business posted $0.51 EPS. OUTFRONT Media’s revenue was up 13.5% on a year-over-year basis. Sell-side analysts anticipate that OUTFRONT Media Inc. will post 2.18 earnings per share for the current year.
OUTFRONT Media Increases Dividend
Institutional Trading of OUTFRONT Media
A number of hedge funds and other institutional investors have recently modified their holdings of OUT. Bank of New York Mellon Corp bought a new position in shares of OUTFRONT Media during the 2nd quarter valued at about $56,839,000. Braun Stacey Associates Inc. bought a new stake in OUTFRONT Media during the second quarter worth approximately $18,702,000. Cohen & Steers Inc. grew its position in OUTFRONT Media by 2.2% in the fourth quarter. Cohen & Steers Inc. now owns 22,314,228 shares of the financial services provider’s stock worth $537,779,000 after buying an additional 486,192 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of OUTFRONT Media by 615.1% in the first quarter. Renaissance Technologies LLC now owns 285,667 shares of the financial services provider’s stock valued at $7,570,000 after buying an additional 245,721 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its holdings in shares of OUTFRONT Media by 38.7% in the fourth quarter. Boothbay Fund Management LLC now owns 684,027 shares of the financial services provider’s stock valued at $16,485,000 after buying an additional 190,990 shares in the last quarter.
Analysts Set New Price Targets
Several brokerages have weighed in on OUT. TD Cowen reaffirmed a “buy” rating and set a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a research note on Thursday, August 6th. Wells Fargo & Company raised their price target on OUTFRONT Media from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Citigroup reaffirmed a “buy” rating on shares of OUTFRONT Media in a report on Tuesday, September 8th. Wall Street Zen lowered shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $38.00 target price on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, OUTFRONT Media presently has an average rating of “Moderate Buy” and an average target price of $34.00.
Check Out Our Latest Stock Analysis on OUT
OUTFRONT Media Company Profile
OUTFRONT Media Inc is an out-of-home advertising company that provides brands and agencies with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, urban panels, street furniture, transit advertising, and other display formats designed to reach consumers in public spaces.
The company’s advertising inventory is used across major metropolitan areas and transportation systems in the United States. OUTFRONT combines its media assets with audience measurement, data and analytics, creative services, and digital advertising capabilities to help advertisers plan, deliver, and evaluate campaigns.
OUTFRONT Media was formed from the former CBS Outdoor Americas business and adopted its current name in 2014 following its separation from CBS Corporation.
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