Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in OUTFRONT Media Inc. (NYSE:OUT)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in OUTFRONT Media Inc. (NYSE:OUT) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,931 shares of the financial services provider’s stock after selling 4,735 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in OUTFRONT Media were worth $564,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of OUT. Commonwealth Equity Services LLC purchased a new stake in OUTFRONT Media in the 4th quarter worth $192,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of OUTFRONT Media during the 4th quarter valued at about $972,000. Wells Fargo & Company MN raised its position in shares of OUTFRONT Media by 40.1% during the 4th quarter. Wells Fargo & Company MN now owns 94,898 shares of the financial services provider’s stock valued at $1,684,000 after buying an additional 27,166 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of OUTFRONT Media during the 4th quarter valued at about $282,000. Finally, Russell Investments Group Ltd. raised its position in shares of OUTFRONT Media by 140.9% during the 4th quarter. Russell Investments Group Ltd. now owns 477,405 shares of the financial services provider’s stock valued at $8,469,000 after buying an additional 279,212 shares in the last quarter.

OUTFRONT Media Stock Performance

Shares of NYSE:OUT opened at $17.70 on Thursday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.11 and a beta of 1.89. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.50. The firm’s 50-day moving average is $16.96 and its 200 day moving average is $16.76. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.37.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $460.20 million for the quarter, compared to the consensus estimate of $463.16 million. OUTFRONT Media had a net margin of 5.99% and a return on equity of 17.54%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. Research analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.8%. The ex-dividend date is Friday, September 5th. OUTFRONT Media’s dividend payout ratio is presently 206.90%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OUT. Barrington Research restated an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research report on Wednesday. Wall Street Zen cut shares of OUTFRONT Media from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Wells Fargo & Company restated an “overweight” rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Morgan Stanley upped their target price on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of OUTFRONT Media from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Insider Buying and Selling

In related news, EVP Richard H. Sauer sold 29,891 shares of the company’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 in the company, valued at approximately $1,436,021.55. This represents a 24.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

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.