OUTFRONT Media Inc. (NYSE:OUT) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,878,718 shares of the financial services provider’s stock after selling 122,684 shares during the period. Bank of New York Mellon Corp owned about 1.12% of OUTFRONT Media worth $30,323,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OUT. Loomis Sayles & Co. L P purchased a new stake in OUTFRONT Media during the fourth quarter valued at about $47,000. Sterling Capital Management LLC increased its holdings in shares of OUTFRONT Media by 672.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 2,522 shares during the period. Rossby Financial LCC acquired a new position in shares of OUTFRONT Media in the 1st quarter valued at about $74,000. Lazard Asset Management LLC acquired a new position in shares of OUTFRONT Media in the 4th quarter valued at about $113,000. Finally, Commonwealth Equity Services LLC acquired a new position in OUTFRONT Media in the fourth quarter worth approximately $192,000.

Insider Activity at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 29,891 shares of OUTFRONT Media stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $471,978.89. Following the sale, the executive vice president directly owned 90,945 shares of the company’s stock, valued at approximately $1,436,021.55. The trade was a 24.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

OUTFRONT Media Price Performance

Shares of OUTFRONT Media stock opened at $17.67 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.37. The firm has a market capitalization of $2.95 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.09 and a beta of 1.87. The business’s 50-day moving average price is $16.36 and its 200-day moving average price is $16.77. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.98.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $390.70 million during the quarter, compared to analysts’ expectations of $396.17 million. OUTFRONT Media had a return on equity of 42.24% and a net margin of 14.60%. Sell-side analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.20 annualized dividend and a yield of 6.79%. OUTFRONT Media’s dividend payout ratio (DPR) is presently 78.95%.

Analyst Ratings Changes

OUT has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Morgan Stanley lowered their target price on OUTFRONT Media from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Wall Street Zen lowered OUTFRONT Media from a “hold” rating to a “sell” rating in a research note on Monday, May 12th. Barrington Research restated an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on OUTFRONT Media from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, OUTFRONT Media currently has a consensus rating of “Hold” and a consensus price target of $18.23.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.