Polar Asset Management Partners Inc. Has $576,000 Stock Holdings in OUTFRONT Media Inc. $OUT

Key Points

• Polar Asset Management Partners Inc. significantly reduced its stake in OUTFRONT Media by 94.7%, selling over 642,000 shares and now holding 35,688 shares worth approximately $576,000.
• OUTFRONT Media declared a quarterly dividend of $0.30, resulting in a 6.6% dividend yield, with the payout date set for September 30th.
• Despite a revenue decline of 3.6% year-over-year, OUTFRONT Media reported earnings of $0.51 per share, exceeding analysts' expectations of $0.48.

Polar Asset Management Partners Inc. reduced its position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 94.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,688 shares of the financial services provider's stock after selling 642,242 shares during the period. Polar Asset Management Partners Inc.'s holdings in OUTFRONT Media were worth $576,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of OUTFRONT Media by 2.5% in the first quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider's stock worth $11,093,000 after acquiring an additional 16,470 shares in the last quarter. GAMMA Investing LLC increased its position in shares of OUTFRONT Media by 1,484.2% in the first quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider's stock worth $971,000 after acquiring an additional 56,342 shares in the last quarter. SG Americas Securities LLC increased its position in shares of OUTFRONT Media by 429.8% in the first quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider's stock worth $529,000 after acquiring an additional 26,577 shares in the last quarter. Pacific Heights Asset Management LLC increased its position in shares of OUTFRONT Media by 122.2% in the first quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider's stock worth $8,070,000 after acquiring an additional 275,000 shares in the last quarter. Finally, New Age Alpha Advisors LLC grew its position in OUTFRONT Media by 162.1% during the first quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider's stock valued at $1,996,000 after purchasing an additional 76,486 shares in the last quarter.

OUTFRONT Media Stock Performance

Shares of OUTFRONT Media stock traded up $0.14 on Friday, reaching $18.87. The stock had a trading volume of 198,041 shares, compared to its average volume of 1,588,672. The business's 50-day moving average price is $18.10 and its two-hundred day moving average price is $16.72. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $19.80. The stock has a market cap of $3.16 billion, a P/E ratio of 32.25, a price-to-earnings-growth ratio of 1.09 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $460.20 million during the quarter, compared to analysts' expectations of $463.16 million. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Friday, September 5th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, September 5th. OUTFRONT Media's payout ratio is 206.90%.

Insider Buying and Selling at OUTFRONT Media

In other OUTFRONT Media news, EVP Mark Emilio Bonanni sold 4,126 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the sale, the executive vice president owned 4,170 shares of the company's stock, valued at $80,814.60. The trade was a 49.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard H. Sauer sold 20,109 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $15.88, for a total transaction of $319,330.92. Following the completion of the sale, the executive vice president directly owned 70,836 shares in the company, valued at $1,124,875.68. This trade represents a 22.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,424,235 shares of company stock valued at $152,103,293 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on OUT. JPMorgan Chase & Co. lowered their price objective on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Wall Street Zen raised shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup reaffirmed a "buy" rating and set a $19.00 price objective (up from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. Morgan Stanley boosted their price objective on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, OUTFRONT Media has a consensus rating of "Moderate Buy" and an average price target of $19.00.

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.