OUTFRONT Media Inc. (NYSE:OUT) Sees Significant Decrease in Short Interest

OUTFRONT Media Inc. (NYSE:OUT) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 4,660,003 shares, a drop of 49.8% from the November 30th total of 9,277,928 shares. Based on an average trading volume of 1,293,224 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.8% of the shares of the stock are short sold. Currently, 2.8% of the shares of the stock are short sold. Based on an average trading volume of 1,293,224 shares, the days-to-cover ratio is presently 3.6 days.

OUTFRONT Media Price Performance

Shares of OUT traded up $0.05 during mid-day trading on Friday, reaching $24.11. 402,324 shares of the company’s stock were exchanged, compared to its average volume of 1,317,727. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75. OUTFRONT Media has a 52-week low of $12.95 and a 52-week high of $24.84. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 1.35 and a beta of 1.57. The company has a 50-day simple moving average of $21.51 and a two-hundred day simple moving average of $19.06.

OUTFRONT Media (NYSE:OUT) last announced its earnings results on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The company had revenue of $467.50 million for the quarter, compared to analyst estimates of $458.32 million. OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. OUTFRONT Media’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. On average, sell-side analysts predict that OUTFRONT Media will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.0%. OUTFRONT Media’s payout ratio is 176.47%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OUT. Wells Fargo & Company reissued an “overweight” rating and set a $27.00 price objective (up previously from $23.00) on shares of OUTFRONT Media in a report on Thursday, December 18th. TD Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, November 11th. Cowen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Tuesday, November 11th. New Street Research set a $24.00 price objective on OUTFRONT Media in a report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. upgraded OUTFRONT Media from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $25.00 in a research report on Wednesday, November 12th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, OUTFRONT Media currently has an average rating of “Buy” and an average target price of $24.57.

Insider Activity at OUTFRONT Media

In other news, Director Manuel A. Diaz sold 11,270 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $22.18, for a total transaction of $249,968.60. Following the transaction, the director directly owned 58,786 shares of the company’s stock, valued at $1,303,873.48. This represents a 16.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On OUTFRONT Media

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisors Capital Management LLC acquired a new position in OUTFRONT Media during the first quarter valued at approximately $22,330,000. Ameriprise Financial Inc. raised its stake in shares of OUTFRONT Media by 85.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider’s stock valued at $29,192,000 after acquiring an additional 822,845 shares during the period. Lasalle Investment Management Securities LLC raised its stake in shares of OUTFRONT Media by 24.0% in the 2nd quarter. Lasalle Investment Management Securities LLC now owns 3,925,402 shares of the financial services provider’s stock valued at $64,063,000 after acquiring an additional 758,952 shares during the period. Woodline Partners LP acquired a new position in shares of OUTFRONT Media during the 3rd quarter valued at $13,705,000. Finally, Boothbay Fund Management LLC purchased a new stake in OUTFRONT Media during the 1st quarter worth $11,388,000.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.