Mark Emilio Bonanni Sells 3,385 Shares of OUTFRONT Media (NYSE:OUT) Stock

OUTFRONT Media Inc. (NYSE:OUT) 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 approximately $310,724.40. This trade represents a 24.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

OUTFRONT Media Stock Down 1.4%

Shares of OUTFRONT Media stock opened at $29.00 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50. OUTFRONT Media Inc. has a 12-month low of $16.97 and a 12-month high of $34.96. The company has a market cap of $5.11 billion, a P/E ratio of 20.86 and a beta of 1.48. The company’s fifty day simple moving average is $31.47 and its two-hundred day simple moving average is $30.26.

OUTFRONT Media (NYSE:OUT) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.38 by $0.30. The firm had revenue of $522.50 million during the quarter, compared to analysts’ expectations of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. Research analysts anticipate that OUTFRONT Media Inc. will post 2.18 EPS for the current year.

OUTFRONT Media Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.6%. This is a boost from OUTFRONT Media’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, September 4th. OUTFRONT Media’s dividend payout ratio (DPR) is 86.33%.

Hedge Funds Weigh In On OUTFRONT Media

Large investors have recently made changes to their positions in the business. Corient Private Wealth LP boosted its position in shares of OUTFRONT Media by 831.4% in the 2nd quarter. Corient Private Wealth LP now owns 131,416 shares of the financial services provider’s stock worth $4,305,000 after purchasing an additional 117,306 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in OUTFRONT Media during the 2nd quarter valued at approximately $822,000. California State Teachers Retirement System increased its position in 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 valued at $178,212,000 after buying an additional 5,660,956 shares in the last quarter. AlphaGrep UK Ltd purchased a new position in OUTFRONT Media during the second quarter valued at $264,000. Finally, TOP Private Wealth LLC. purchased a new position in OUTFRONT Media during the second quarter valued at $72,000.

Wall Street Analysts Forecast Growth

OUT has been the topic of a number of research analyst reports. TD Cowen reiterated 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. Barrington Research set a $38.00 target price on OUTFRONT Media in a research note on Tuesday, May 12th. JPMorgan Chase & Co. restated an “overweight” rating and set a $38.00 price target on shares of OUTFRONT Media in a research report on Wednesday, July 22nd. Wall Street Zen cut OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Wells Fargo & Company increased their price objective on OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, OUTFRONT Media has a consensus rating of “Moderate Buy” and an average target price 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.