Insider Selling: OUTFRONT Media (NYSE:OUT) EVP Sells $696,000.00 in Stock

Key Points

• OUTFRONT Media EVP Matthew Siegel sold 25,000 shares for approximately $696,000 at an average price of $27.84. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 264,925 shares.
• OUTFRONT Media reported quarterly adjusted earnings of $0.68 per share, exceeding estimates of $0.38, while revenue rose 13.5% year over year to $522.5 million.
• The company increased its quarterly dividend from $0.30 to $0.33 per share, representing a 4.6% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.00.

OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) EVP Matthew Siegel sold 25,000 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $27.84, for a total transaction of $696,000.00. Following the completion of the transaction, the executive vice president owned 264,925 shares in the company, valued at approximately $7,375,512. The trade was a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

OUTFRONT Media Trading Up 2.0%

OUT stock traded up $0.57 during trading on Friday, hitting $28.62. The company had a trading volume of 1,566,464 shares, compared to its average volume of 1,604,963. OUTFRONT Media Inc. has a 52-week low of $16.97 and a 52-week high of $34.96. The company has a 50 day simple moving average of $29.71 and a 200-day simple moving average of $30.41. The firm has a market capitalization of $5.04 billion, a P/E ratio of 20.59 and a beta of 1.53. 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 (NYSE:OUT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.30. The business had revenue of $522.50 million for the quarter, compared to the consensus estimate of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. As a group, research analysts forecast that OUTFRONT Media Inc. will post 2.18 earnings per share for the current fiscal year.

OUTFRONT Media Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 4th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.6%. This is an increase from OUTFRONT Media's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, September 4th. OUTFRONT Media's payout ratio is currently 94.96%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $38.00 target price on shares of OUTFRONT Media in a report on Wednesday, July 22nd. Wall Street Zen downgraded shares of OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 26th. Citigroup reissued a "buy" rating on shares of OUTFRONT Media in a report on Tuesday, September 8th. TD Cowen restated a "buy" rating and set a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a report on Thursday, August 6th. Finally, Wells Fargo & Company increased their target price on OUTFRONT Media from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, OUTFRONT Media presently has an average rating of "Moderate Buy" and an average target price of $34.00.

Institutional Trading of OUTFRONT Media

Institutional investors have recently modified their holdings of the company. Gamco Investors INC. ET AL raised its holdings in OUTFRONT Media by 0.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 51,648 shares of the financial services provider's stock worth $1,369,000 after purchasing an additional 351 shares during the period. GAMMA Investing LLC grew its holdings in OUTFRONT Media by 4.6% in the second quarter. GAMMA Investing LLC now owns 10,048 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 440 shares during the period. Convergence Investment Partners LLC grew its holdings in OUTFRONT Media by 0.7% in the first quarter. Convergence Investment Partners LLC now owns 78,004 shares of the financial services provider's stock valued at $2,067,000 after purchasing an additional 537 shares during the period. EverSource Wealth Advisors LLC increased its position 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 buying an additional 686 shares in the last quarter. Finally, Abel Hall LLC raised its stake in shares of OUTFRONT Media by 5.9% during the 1st quarter. Abel Hall LLC now owns 16,518 shares of the financial services provider's stock worth $438,000 after buying an additional 926 shares during the period.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is an out-of-home advertising company that provides brands and agencies with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, urban panels, street furniture, transit advertising, and other display formats designed to reach consumers in public spaces.

The company's advertising inventory is used across major metropolitan areas and transportation systems in the United States. OUTFRONT combines its media assets with audience measurement, data and analytics, creative services, and digital advertising capabilities to help advertisers plan, deliver, and evaluate campaigns.

OUTFRONT Media was formed from the former CBS Outdoor Americas business and adopted its current name in 2014 following its separation from CBS Corporation.

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