OUTFRONT Media (NYSE:OUT) EVP Sells $100,940.70 in Stock

Key Points

• EVP Mark Emilio Bonanni sold 3,385 OUTFRONT Media shares for approximately $100,941, reducing his ownership by 24.5% to 10,420 shares.
• OUTFRONT Media shares fell 1.4% to $29.00, while the company reported quarterly EPS of $0.68 and revenue of $522.5 million, exceeding analyst expectations.
• The company increased its quarterly dividend from $0.30 to $0.33 per share, representing an annualized yield of about 4.6%; analysts maintain a “Moderate Buy” consensus with a $34 price target.

OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) EVP Mark Emilio Bonanni sold 3,385 shares of OUTFRONT Media stock in a transaction on 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 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 legal filing with the SEC, which is available at this hyperlink.

OUTFRONT Media Stock Down 1.4%

OUT traded down $0.40 on Friday, hitting $29.00. 1,064,064 shares of the company were exchanged, compared to its average volume of 1,610,203. The stock's fifty day moving average is $31.47 and its 200-day moving average is $30.26. OUTFRONT Media Inc. has a 12 month low of $16.97 and a 12 month high of $34.96. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $5.11 billion, a PE ratio of 20.86 and a beta of 1.48.

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

OUTFRONT Media Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from OUTFRONT Media's previous quarterly dividend of $0.30. OUTFRONT Media's payout ratio is currently 86.33%.

Institutional Trading of OUTFRONT Media

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in shares of OUTFRONT Media by 3,193.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,838,225 shares of the financial services provider's stock worth $178,212,000 after buying an additional 5,660,956 shares during the period. Bank of New York Mellon Corp bought a new position in OUTFRONT Media in the 2nd quarter valued at about $56,839,000. Balyasny Asset Management L.P. lifted its position in OUTFRONT Media by 226.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,310,195 shares of the financial services provider's stock worth $55,676,000 after acquiring an additional 1,603,315 shares during the last quarter. Ameriprise Financial Inc. lifted its position in OUTFRONT Media by 85.2% during the second quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider's stock worth $29,192,000 after acquiring an additional 822,845 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of OUTFRONT Media during the third quarter worth approximately $13,705,000.

Wall Street Analysts Forecast Growth

OUT has been the subject of a number of research analyst reports. Morgan Stanley set a $37.00 price target on OUTFRONT Media in a report on Friday, May 8th. Wells Fargo & Company upped their price objective on OUTFRONT Media from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $38.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, July 22nd. Barrington Research set a $38.00 target price on OUTFRONT Media in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 26th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

About OUTFRONT Media

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source