OUTFRONT Media Inc. $OUT Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC lowered its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 36.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 448,044 shares of the financial services provider’s stock after selling 257,554 shares during the quarter. Boothbay Fund Management LLC’s holdings in OUTFRONT Media were worth $7,312,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new stake in OUTFRONT Media in the first quarter worth $28,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of OUTFRONT Media by 158.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,041 shares during the period. Rossby Financial LCC increased its holdings in shares of OUTFRONT Media by 42.4% in the 2nd quarter. Rossby Financial LCC now owns 6,953 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,071 shares during the period. GAMMA Investing LLC lifted its position in OUTFRONT Media by 113.7% in the 2nd quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 4,238 shares during the last quarter. Finally, EMC Capital Management acquired a new position in OUTFRONT Media during the 2nd quarter valued at about $174,000.

OUTFRONT Media Price Performance

Shares of NYSE:OUT opened at $23.37 on Friday. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 1.32 and a beta of 1.57. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $23.95. The stock’s 50 day moving average price is $20.23 and its 200 day moving average price is $18.54.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.21). OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The firm had revenue of $467.50 million for the quarter, compared to analyst estimates of $458.32 million. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $0.30 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.20 annualized dividend and a yield of 5.1%. OUTFRONT Media’s payout ratio is 176.47%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of OUTFRONT Media from a “neutral” rating to an “overweight” rating and raised their price target for the company from $19.00 to $25.00 in a research note on Wednesday, November 12th. Wall Street Zen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Tuesday, November 11th. Citigroup reiterated a “buy” rating and set a $23.00 price target (up previously from $20.00) on shares of OUTFRONT Media in a research report on Wednesday, November 12th. Finally, New Street Research set a $24.00 price target on OUTFRONT Media in a report on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.00.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.