Polar Asset Management Partners Inc. Makes New $5.62 Million Investment in OUTFRONT Media Inc. $OUT

Key Points

• Polar Asset Management bought a new stake of 306,873 shares in OUTFRONT Media valued at approximately $5.62 million, representing about 0.18% ownership.
• OUTFRONT declared a quarterly dividend of $0.30 (annualized $1.20) for a 4.4% yield150%, raising sustainability questions.
• Analyst sentiment is generally positive—six Buys and one Hold with a consensus rating of “Moderate Buy” and an average price target of $27.86, while several firms have recently raised targets up to $33.00.

Polar Asset Management Partners Inc. bought a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 306,873 shares of the financial services provider's stock, valued at approximately $5,622,000. Polar Asset Management Partners Inc. owned approximately 0.18% of OUTFRONT Media as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in shares of OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock worth $80,393,000 after buying an additional 448,993 shares during the last quarter. Wellington Management Group LLP increased its position in OUTFRONT Media by 15.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,973,868 shares of the financial services provider's stock valued at $72,801,000 after buying an additional 527,258 shares in the last quarter. Lasalle Investment Management Securities LLC raised its stake in OUTFRONT Media by 24.0% during the second quarter. Lasalle Investment Management Securities LLC now owns 3,925,402 shares of the financial services provider's stock valued at $64,063,000 after buying an additional 758,952 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in OUTFRONT Media by 10.5% during the second quarter. Qube Research & Technologies Ltd now owns 2,888,621 shares of the financial services provider's stock valued at $47,142,000 after buying an additional 275,023 shares during the last quarter. Finally, GRS Advisors LLC boosted its holdings in OUTFRONT Media by 12.8% in the third quarter. GRS Advisors LLC now owns 2,468,232 shares of the financial services provider's stock worth $45,218,000 after acquiring an additional 279,326 shares in the last quarter.

OUTFRONT Media Trading Down 0.9%

Shares of NYSE:OUT opened at $27.01 on Thursday. The company has a market cap of $4.75 billion, a P/E ratio of 33.76, a PEG ratio of 1.35 and a beta of 1.51. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.92 and a quick ratio of 0.92. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $29.27. The stock's fifty day moving average price is $26.08 and its 200-day moving average price is $22.47.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.16). OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The business had revenue of $513.30 million during the quarter, compared to the consensus estimate of $511.61 million. Sell-side analysts expect that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, March 6th. OUTFRONT Media's dividend payout ratio (DPR) is presently 150.00%.

Insider Activity at OUTFRONT Media

In other news, Director Manuel A. Diaz sold 11,271 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $24.49, for a total value of $276,026.79. Following the completion of the sale, the director directly owned 47,515 shares in the company, valued at $1,163,642.35. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

OUTFRONT Media Company Profile

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.

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