Insider Selling: OUTFRONT Media (NYSE:OUT) EVP Sells $1,289,500.00 in Stock

OUTFRONT Media Inc. (NYSE:OUT) EVP Matthew Siegel sold 50,000 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total value of $1,289,500.00. Following the sale, the executive vice president owned 289,925 shares of the company’s stock, valued at $7,477,165.75. This trade represents a 14.71% decrease in their position. The sale 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 Stock Performance

OUT opened at $27.14 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.63. The firm has a market cap of $4.78 billion, a PE ratio of 33.92, a P/E/G ratio of 1.33 and a beta of 1.51. The business has a fifty day simple moving average of $26.56 and a 200-day simple moving average of $23.14. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $29.27.

OUTFRONT Media (NYSE:OUT) last announced its earnings results on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.16). OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The company had revenue of $513.30 million for the quarter, compared to analyst estimates of $511.61 million. As a group, equities analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, March 6th. OUTFRONT Media’s payout ratio is presently 150.00%.

Institutional Trading of OUTFRONT Media

Institutional investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. increased its stake in OUTFRONT Media by 226.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,310,195 shares of the financial services provider’s stock valued at $55,676,000 after buying an additional 1,603,315 shares during the period. Vanguard Group Inc. grew its holdings in shares of OUTFRONT Media by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider’s stock valued at $545,983,000 after acquiring an additional 1,131,954 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of OUTFRONT Media by 85.2% during 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 in the last quarter. Woodline Partners LP acquired a new position in shares of OUTFRONT Media in the third quarter worth $13,705,000. Finally, Federated Hermes Inc. increased its stake in shares of OUTFRONT Media by 199.9% in the fourth quarter. Federated Hermes Inc. now owns 905,641 shares of the financial services provider’s stock worth $21,826,000 after acquiring an additional 603,694 shares during the last quarter.

Wall Street Analysts Forecast Growth

OUT has been the subject of several recent analyst reports. Zacks Research cut shares of OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Wells Fargo & Company upped their price target on shares of OUTFRONT Media from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Morgan Stanley raised shares of OUTFRONT Media from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $28.00 in a research note on Tuesday, December 16th. TD Cowen lifted their price objective on shares of OUTFRONT Media from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Barrington Research increased their target price on OUTFRONT Media from $27.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.86.

About OUTFRONT Media

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.