OUTFRONT Media Inc. (NYSE:OUT) Short Interest Up 21.9% in March

Key Points

• Short interest jumped 21.9% in March to 4,141,971 shares (about 2.4% of shares outstanding) with a days-to-cover ratio of 2.8, indicating increased bearish positioning.
• Significant insider selling occurred recently—72,542 shares sold in the last three months, including EVP Matthew Siegel’s 50,000-share sale (under a Rule 10b5-1 plan) and Director Manuel Diaz’s 11,271-share sale; corporate insiders now own 0.47%.
• Financials/dividend pressure: OUTFRONT missed quarterly EPS ($0.55 vs. $0.71) but pays a $0.30 quarterly dividend (4.1% yield) with a 150% payout ratio, raising questions about dividend sustainability.

OUTFRONT Media Inc. (NYSE:OUT - Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 4,141,971 shares, an increase of 21.9% from the March 15th total of 3,398,754 shares. Currently, 2.4% of the company's shares are sold short. Based on an average daily volume of 1,453,950 shares, the days-to-cover ratio is currently 2.8 days.

Insider Buying and Selling

In related news, EVP Matthew Siegel sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the completion of the sale, the executive vice president owned 289,925 shares of the company's stock, valued at approximately $7,477,165.75. This represents a 14.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $26.93, for a total transaction of $303,528.03. Following the sale, the director directly owned 36,244 shares of the company's stock, valued at approximately $976,050.92. This trade represents a 23.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 72,542 shares of company stock valued at $1,869,055. Corporate insiders own 0.47% of the company's stock.

Institutional Trading of OUTFRONT Media

Large investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in OUTFRONT Media in the third quarter valued at approximately $29,000. Private Trust Co. NA purchased a new position in shares of OUTFRONT Media during the 3rd quarter valued at approximately $33,000. Farther Finance Advisors LLC boosted its stake in shares of OUTFRONT Media by 157.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,431 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of OUTFRONT Media during the 4th quarter valued at approximately $71,000. Finally, IFP Advisors Inc boosted its stake in shares of OUTFRONT Media by 16.5% during the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider's stock valued at $78,000 after buying an additional 582 shares during the last quarter.

OUTFRONT Media Stock Up 1.3%

Shares of NYSE:OUT opened at $29.45 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.63. OUTFRONT Media has a 52-week low of $14.08 and a 52-week high of $29.53. The company has a 50 day moving average of $27.22 and a two-hundred day moving average of $23.74. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 36.82, a price-to-earnings-growth ratio of 1.40 and a beta of 1.51.

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

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.20 annualized dividend and a yield of 4.1%. OUTFRONT Media's dividend payout ratio (DPR) is 150.00%.

Analyst Upgrades and Downgrades

OUT has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of OUTFRONT Media from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, February 27th. Zacks Research downgraded shares of OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Barrington Research increased their target price on shares of OUTFRONT Media from $27.00 to $33.00 and gave the stock an "outperform" rating in a research report on Monday, March 2nd. Finally, TD Cowen increased their target price on shares of OUTFRONT Media from $24.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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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