OUTFRONT Media Inc. (NYSE:OUT) Holdings Boosted by M&T Bank Corp

M&T Bank Corp grew its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,665 shares of the financial services provider’s stock after purchasing an additional 1,397 shares during the period. M&T Bank Corp’s holdings in OUTFRONT Media were worth $204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of OUTFRONT Media by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider’s stock valued at $11,093,000 after purchasing an additional 16,470 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of OUTFRONT Media by 1,484.2% in the first quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider’s stock valued at $971,000 after acquiring an additional 56,342 shares during the period. SG Americas Securities LLC boosted its holdings in OUTFRONT Media by 429.8% in the 1st quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 26,577 shares during the period. Pacific Heights Asset Management LLC grew its position in OUTFRONT Media by 122.2% during the first quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider’s stock worth $8,070,000 after buying an additional 275,000 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in shares of OUTFRONT Media during the first quarter valued at approximately $929,000.

Insiders Place Their Bets

In related news, EVP Richard H. Sauer sold 29,891 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $471,978.89. Following the transaction, the executive vice president directly owned 90,945 shares of the company’s stock, valued at approximately $1,436,021.55. This trade represents a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by insiders.

OUTFRONT Media Trading Down 1.8%

Shares of OUTFRONT Media stock opened at $17.88 on Friday. The stock has a market cap of $2.99 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.11 and a beta of 1.87. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.37. The business’s 50 day moving average is $16.53 and its 200-day moving average is $16.78. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). OUTFRONT Media had a net margin of 14.60% and a return on equity of 42.24%. The business had revenue of $390.70 million during the quarter, compared to analyst estimates of $396.17 million. Equities research analysts predict that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, June 6th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.71%. The ex-dividend date of this dividend was Friday, June 6th. OUTFRONT Media’s payout ratio is 78.95%.

Analyst Ratings Changes

OUT has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of OUTFRONT Media from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Barrington Research restated an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of OUTFRONT Media from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, May 21st. Wall Street Zen downgraded shares of OUTFRONT Media from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Finally, Morgan Stanley dropped their price target on OUTFRONT Media from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.60.

OUTFRONT Media Company Profile

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.