Anson Funds Management LP Takes Position in OUTFRONT Media Inc. $OUT

Key Points

• Anson Funds Management LP recently acquired a new stake in OUTFRONT Media Inc., investing approximately $1.05 million for 65,000 shares.
• OUTFRONT Media reported better-than-expected earnings of $0.51 per share, surpassing the consensus estimate of $0.48, despite revenue declining by 3.6% year-over-year.
• The company declared a quarterly dividend of $0.30 per share, resulting in an annual yield of 6.3%, with a high payout ratio of 206.90%.

Anson Funds Management LP purchased a new stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 65,000 shares of the financial services provider's stock, valued at approximately $1,049,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC purchased a new position in OUTFRONT Media in the 1st quarter valued at approximately $1,619,000. Jump Financial LLC lifted its stake in OUTFRONT Media by 1,333.8% in the 1st quarter. Jump Financial LLC now owns 158,136 shares of the financial services provider's stock valued at $2,552,000 after buying an additional 147,107 shares in the last quarter. SVB Wealth LLC purchased a new stake in OUTFRONT Media in the 1st quarter valued at approximately $28,000. AlphaQuest LLC raised its holdings in shares of OUTFRONT Media by 32.6% in the first quarter. AlphaQuest LLC now owns 48,240 shares of the financial services provider's stock worth $779,000 after acquiring an additional 11,871 shares during the last quarter. Finally, Whetstone Capital Advisors LLC acquired a new position in shares of OUTFRONT Media in the first quarter worth $175,000.

OUTFRONT Media Stock Performance

OUT stock traded down $0.25 during mid-day trading on Thursday, reaching $18.69. The company had a trading volume of 943,672 shares, compared to its average volume of 1,597,239. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $19.80. The stock has a market capitalization of $3.12 billion, a P/E ratio of 31.97, a P/E/G ratio of 1.10 and a beta of 1.89. The stock's 50-day simple moving average is $17.59 and its two-hundred day simple moving average is $16.73. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.60.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. OUTFRONT Media had a return on equity of 18.07% and a net margin of 5.99%.The company had revenue of $460.20 million during the quarter, compared to analysts' expectations of $463.16 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.20 annualized dividend and a dividend yield of 6.4%. OUTFRONT Media's dividend payout ratio is presently 206.90%.

Wall Street Analyst Weigh In

OUT has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Barrington Research restated an "outperform" rating and issued a $21.00 price objective on shares of OUTFRONT Media in a report on Wednesday, August 6th. Morgan Stanley raised their price objective on OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Wall Street Zen raised shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Insider Buying and Selling at OUTFRONT Media

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the transaction, the executive vice president owned 4,170 shares of the company's stock, valued at approximately $80,814.60. This represents a 49.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Richard H. Sauer sold 29,891 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $471,978.89. Following the completion of the transaction, the executive vice president directly owned 90,945 shares of the company's stock, valued at approximately $1,436,021.55. The trade was a 24.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,126 shares of company stock valued at $871,272. Company insiders own 0.47% of the company's stock.

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.