Polar Asset Management Partners Inc. Takes Position in OUTFRONT Media Inc. $OUT

Polar Asset Management Partners Inc. acquired a new position in OUTFRONT Media Inc. (NYSE:OUT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 306,873 shares of the financial services provider’s stock, valued at approximately $5,622,000.

Other large investors also recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in OUTFRONT Media during the third quarter valued at $29,000. Private Trust Co. NA bought a new position in OUTFRONT Media in the third quarter valued at about $33,000. Rossby Financial LCC boosted its position in OUTFRONT Media by 14.2% in the third quarter. Rossby Financial LCC now owns 7,942 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 989 shares during the last quarter. State of Wyoming boosted its position in OUTFRONT Media by 155.5% in the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 4,853 shares during the last quarter. Finally, CWM LLC grew its stake in shares of OUTFRONT Media by 8.3% during the 3rd quarter. CWM LLC now owns 8,229 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 631 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of OUTFRONT Media from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Barrington Research raised their price objective on shares of OUTFRONT Media from $27.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. TD Cowen boosted their target price on shares of OUTFRONT Media from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Morgan Stanley raised shares of OUTFRONT Media from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $20.00 to $28.00 in a report on Tuesday, December 16th. Finally, Zacks Research downgraded shares of OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, OUTFRONT Media presently has an average rating of “Moderate Buy” and an average target price of $27.86.

Insiders Place Their Bets

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $24.49, for a total value of $276,026.79. Following the completion of the transaction, the director directly owned 47,515 shares in the company, valued at $1,163,642.35. This represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Stock Performance

Shares of OUT opened at $27.01 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.63. The business has a 50-day simple moving average of $26.08 and a two-hundred day simple moving average of $22.47. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 1.35 and a beta of 1.51. OUTFRONT Media Inc. has a 52 week low of $12.95 and a 52 week high of $29.27.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.16). The company had revenue of $513.30 million for the quarter, compared to analysts’ expectations of $511.61 million. OUTFRONT Media had a net margin of 8.03% and a return on equity of 24.86%. On average, analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 annualized dividend and a yield of 4.4%. OUTFRONT Media’s payout ratio is currently 150.00%.

OUTFRONT Media 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.