OUTFRONT Media Inc. $OUT Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its OUTFRONT Media stake by 80% in the second quarter, selling 121,395 shares and retaining 30,265 shares valued at approximately $991,000.
• OUTFRONT Media reported quarterly EPS of $0.68, exceeding estimates of $0.38, while revenue rose 13.5% year over year to $522.5 million.
• The company raised its quarterly dividend from $0.30 to $0.33 per share, representing an annualized payout of $1.32 and a 4.7% yield; analysts maintain a consensus “Moderate Buy” rating with a $34 price target.

Squarepoint Ops LLC decreased its holdings in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 80.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,265 shares of the financial services provider's stock after selling 121,395 shares during the quarter. Squarepoint Ops LLC's holdings in OUTFRONT Media were worth $991,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OUT. Trust Co. of Vermont acquired a new position in shares of OUTFRONT Media during the 2nd quarter worth $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of OUTFRONT Media by 74.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 686 shares during the period. TOP Private Wealth LLC. acquired a new stake in shares of OUTFRONT Media in the second quarter valued at about $72,000. Nykredit A S acquired a new stake in shares of OUTFRONT Media in the second quarter valued at about $84,000. Finally, North Star Investment Management Corp. purchased a new stake in OUTFRONT Media during the first quarter worth about $222,000.

OUTFRONT Media Stock Performance

NYSE OUT opened at $27.88 on Friday. 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 Inc. has a fifty-two week low of $16.97 and a fifty-two week high of $34.96. The business has a fifty day moving average of $30.66 and a 200-day moving average of $30.42. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 20.06 and a beta of 1.48.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.30. The business had revenue of $522.50 million for the quarter, compared to analyst estimates of $509.61 million. OUTFRONT Media had a return on equity of 37.44% and a net margin of 12.66%.The business's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. As a group, analysts predict that OUTFRONT Media Inc. will post 2.18 earnings per share for the current fiscal year.

OUTFRONT Media Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. This is an increase from OUTFRONT Media's previous quarterly dividend of $0.30. OUTFRONT Media's dividend payout ratio is 94.96%.

Analyst Upgrades and Downgrades

OUT has been the topic of several recent analyst reports. 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. Citigroup reiterated a "buy" rating on shares of OUTFRONT Media in a research report on Tuesday, September 8th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $38.00 price target on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. Wells Fargo & Company upped their price target on OUTFRONT Media from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $40.00 price objective (up from $38.00) on shares of OUTFRONT Media in a research note on Thursday, August 6th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Insider Activity

In other news, EVP Mark Emilio Bonanni sold 3,385 shares of OUTFRONT Media stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $29.82, for a total transaction of $100,940.70. Following the completion of the sale, the executive vice president directly owned 10,420 shares in the company, valued at $310,724.40. The trade was a 24.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Richard Sauer sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total transaction of $160,400.00. Following the completion of the transaction, the executive vice president directly owned 56,947 shares of the company's stock, valued at approximately $1,826,859.76. This represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,385 shares of company stock worth $416,991 over the last ninety days. 0.45% of the stock is owned by corporate insiders.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is an out-of-home (OOH) advertising company that provides brands and agencies with advertising space across physical and digital media. Its inventory includes billboards, digital displays, transit advertising, street furniture, and other media assets located in high-traffic areas.

The company's offerings include traditional static advertising, digital out-of-home campaigns, place-based media, and experiential marketing solutions. OUTFRONT also uses audience insights, location data, and technology to help advertisers plan, target, measure, and optimize campaigns across its media network.

OUTFRONT serves advertisers primarily in the United States and Canada, with media assets in major metropolitan markets and transportation systems.

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