OUTFRONT Media Inc. (NYSE:OUT) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 930,510 shares, a drop of 43.8% from the June 15th total of 1,655,817 shares. Based on an average daily trading volume, of 648,907 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.7% of the shares of the stock are sold short.
Several research firms recently weighed in on OUT. Zacks Investment Research raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, April 25th. TheStreet lowered OUTFRONT Media from a “b-” rating to a “c” rating in a research note on Friday, May 12th. Loop Capital raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, June 5th. Finally, ValuEngine lowered OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. OUTFRONT Media currently has an average rating of “Hold” and a consensus target price of $30.33.
Shares of OUTFRONT Media (OUT) opened at 23.17 on Tuesday. OUTFRONT Media has a 52 week low of $20.72 and a 52 week high of $27.89. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 33.43 and a beta of 1.14. The stock’s 50 day moving average price is $22.92 and its 200-day moving average price is $25.05.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 9th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend was Wednesday, June 7th. OUTFRONT Media’s payout ratio is currently 205.72%.
Several institutional investors have recently bought and sold shares of OUT. Asset Management One Co. Ltd. increased its position in OUTFRONT Media by 5.9% in the first quarter. Asset Management One Co. Ltd. now owns 3,785 shares of the financial services provider’s stock worth $100,000 after buying an additional 210 shares during the period. Quantbot Technologies LP increased its position in OUTFRONT Media by 47.5% in the first quarter. Quantbot Technologies LP now owns 6,419 shares of the financial services provider’s stock worth $170,000 after buying an additional 2,068 shares during the period. SG Americas Securities LLC bought a new position in OUTFRONT Media during the first quarter worth approximately $204,000. Koch Industries Inc. bought a new position in OUTFRONT Media during the first quarter worth approximately $207,000. Finally, Jane Street Group LLC bought a new position in OUTFRONT Media during the first quarter worth approximately $210,000.
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About OUTFRONT Media
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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