Andrew Sriubas Acquires 6,000 Shares of Outfront Media Inc. (OUT) Stock
Outfront Media Inc. (NYSE:OUT) EVP Andrew Sriubas acquired 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were acquired at an average cost of $20.88 per share, for a total transaction of $125,280.00. Following the purchase, the executive vice president now directly owns 19,319 shares of the company’s stock, valued at $403,380.72. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Outfront Media Inc. (NYSE:OUT) opened at 22.41 on Tuesday. The stock’s market capitalization is $3.09 billion. Outfront Media Inc. has a 12-month low of $18.01 and a 12-month high of $24.44. The stock’s 50 day moving average is $22.21 and its 200 day moving average is $22.28.
Outfront Media (NYSE:OUT) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.06. The company earned $385.30 million during the quarter, compared to analysts’ expectations of $380.11 million. Outfront Media had a negative return on equity of 2.13% and a negative net margin of 1.74%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. Equities analysts anticipate that Outfront Media Inc. will post $2.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 6.07%. The ex-dividend date is Wednesday, September 7th. Outfront Media’s dividend payout ratio is presently -679.97%.
Several research firms recently commented on OUT. Zacks Investment Research lowered shares of Outfront Media from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Gabelli initiated coverage on shares of Outfront Media in a research note on Friday, July 22nd. They issued a “hold” rating and a $29.00 target price on the stock. Wedbush initiated coverage on shares of Outfront Media in a research note on Thursday, July 21st. They issued a “neutral” rating and a $26.00 target price on the stock. TheStreet upgraded shares of Outfront Media from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th. Finally, Loop Capital initiated coverage on shares of Outfront Media in a research note on Monday, September 12th. They issued a “hold” rating and a $23.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $25.57.
A number of hedge funds and other institutional investors have recently bought and sold shares of OUT. Royal Bank of Canada increased its position in Outfront Media by 4.6% in the first quarter. Royal Bank of Canada now owns 48,744 shares of the company’s stock valued at $1,028,000 after buying an additional 2,138 shares in the last quarter. Renaissance Technologies LLC increased its position in Outfront Media by 706.2% in the first quarter. Renaissance Technologies LLC now owns 1,709,100 shares of the company’s stock worth $36,062,000 after buying an additional 1,497,100 shares during the period. JPMorgan Chase & Co. increased its position in Outfront Media by 10.0% in the second quarter. JPMorgan Chase & Co. now owns 9,130,965 shares of the company’s stock worth $220,695,000 after buying an additional 830,571 shares during the period. Prudential Financial Inc. acquired a new position in Outfront Media during the first quarter worth approximately $949,000. Finally, TIAA CREF Investment Management LLC increased its position in Outfront Media by 3.8% in the first quarter. TIAA CREF Investment Management LLC now owns 357,894 shares of the company’s stock worth $7,552,000 after buying an additional 12,958 shares during the period.
About Outfront Media
OUTFRONT Media Inc, formerly CBS Outdoor Americas Inc, is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments.
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