OUTFRONT Media Inc. (NYSE:OUT) Short Interest Down 49.8% in December

OUTFRONT Media Inc. (NYSE:OUT) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 4,660,003 shares, a drop of 49.8% from the November 30th total of 9,277,928 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily volume of 1,293,224 shares, the short-interest ratio is currently 3.6 days. Based on an average daily volume of 1,293,224 shares, the short-interest ratio is currently 3.6 days. Approximately 2.8% of the company’s stock are short sold.

OUTFRONT Media Stock Performance

OUT stock traded up $0.05 during trading on Friday, hitting $24.11. The company had a trading volume of 402,324 shares, compared to its average volume of 1,317,727. The firm has a market cap of $4.03 billion, a PE ratio of 35.45, a price-to-earnings-growth ratio of 1.35 and a beta of 1.57. OUTFRONT Media has a 1-year low of $12.95 and a 1-year high of $24.84. The firm has a 50-day moving average price of $21.51 and a 200-day moving average price of $19.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The company had revenue of $467.50 million for the quarter, compared to analyst estimates of $458.32 million. OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 earnings per share. On average, analysts expect that OUTFRONT Media will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Friday, December 5th. OUTFRONT Media’s payout ratio is currently 176.47%.

Insider Activity at OUTFRONT Media

In other news, Director Manuel A. Diaz sold 11,270 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $22.18, for a total value of $249,968.60. Following the completion of the transaction, the director directly owned 58,786 shares of the company’s stock, valued at approximately $1,303,873.48. The trade was a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of OUTFRONT Media

Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of OUTFRONT Media during the third quarter worth about $29,000. SVB Wealth LLC purchased a new stake in OUTFRONT Media in the 1st quarter valued at approximately $28,000. Private Trust Co. NA acquired a new position in OUTFRONT Media during the 3rd quarter worth approximately $33,000. IFP Advisors Inc increased its position in OUTFRONT Media by 16.5% during the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 582 shares during the period. Finally, Rossby Financial LCC raised its stake in shares of OUTFRONT Media by 42.4% during the 2nd quarter. Rossby Financial LCC now owns 6,953 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,071 shares in the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on OUT. Citigroup reiterated a “buy” rating and set a $23.00 price target (up previously from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. JPMorgan Chase & Co. upgraded OUTFRONT Media from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $25.00 in a research report on Wednesday, November 12th. New Street Research set a $24.00 price target on OUTFRONT Media in a report on Tuesday, November 11th. Wall Street Zen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, OUTFRONT Media currently has an average rating of “Buy” and a consensus price target of $24.57.

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.