OUTFRONT Media (OUT) : The traders have covered their outstanding shorts in OUTFRONT Media (OUT) to the tune of -131,315 shares, a change of -4.4%. As on Jul 29, 2016, the outstanding shorts on the stock were 2,988,371 shares, however, by August 15, 2016, the shorts had reduced to 2,857,056 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 2.1% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 776,468 shares. The short interest information was released on Wednesday Aug 24th after the market close.
OUTFRONT Media (NYSE:OUT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.41 and $22.23 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $22.46. The buying momentum continued till the end and the stock did not give up its gains. It closed at $22.45, notching a gain of 0.04% for the day. The total traded volume was 447,666 . The stock had closed at $22.44 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Mathes Peter, director of Outfront Media Inc., had unloaded 1,000 shares at an average price of $21.92 in a transaction dated on May 26, 2016. The total value of the transaction was worth $21,920.
OUTFRONT Media Inc., formerly CBS Outdoor Americas Inc., is a provider of advertising space on out-of-home advertising structures and sites. The Company operates in over 180 markets in the United States, Canada and Latin America. In addition to leasing displays, the Company also provides other services to its customers, such as pre-campaign category research, creative design support and post-campaign tracking and analytics. It manages its business through two segments, United States and International. The United States segment includes the Companys business in 25 markets in the United States. The Companys portfolio includes sites, such as the Bay Bridge in San Francisco, various locations along Sunset Boulevard in Los Angeles, and various sites in and around both Grand Central Station and Times Square in New York. The Companys International segment includes its operations in Canada and Latin America, including Mexico, Argentina, Brazil, Chile and Uruguay.