Hsbc Holdings PLC Reduces Position in OUTFRONT Media Inc. $OUT

Hsbc Holdings PLC decreased its position in OUTFRONT Media Inc. (NYSE:OUT) by 24.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,924 shares of the financial services provider’s stock after selling 10,855 shares during the period. Hsbc Holdings PLC’s holdings in OUTFRONT Media were worth $551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Invesco Ltd. grew its stake in OUTFRONT Media by 7.6% in the first quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider’s stock worth $126,476,000 after purchasing an additional 555,568 shares in the last quarter. Wellington Management Group LLP grew its stake in OUTFRONT Media by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 4,115,268 shares of the financial services provider’s stock worth $73,005,000 after purchasing an additional 342,413 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in OUTFRONT Media by 7.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,248,114 shares of the financial services provider’s stock worth $36,285,000 after purchasing an additional 153,617 shares in the last quarter. Northern Trust Corp grew its stake in OUTFRONT Media by 8.2% in the fourth quarter. Northern Trust Corp now owns 2,119,006 shares of the financial services provider’s stock worth $37,591,000 after purchasing an additional 159,848 shares in the last quarter. Finally, LSV Asset Management grew its stake in OUTFRONT Media by 25.7% in the first quarter. LSV Asset Management now owns 2,005,448 shares of the financial services provider’s stock worth $32,368,000 after purchasing an additional 410,086 shares in the last quarter.

Analysts Set New Price Targets

OUT has been the topic of several research analyst reports. Citigroup reissued a “buy” rating and issued a $19.00 price objective (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Barrington Research restated an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a report on Wednesday, August 6th. JPMorgan Chase & Co. lowered their target price on OUTFRONT Media from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, May 21st. Morgan Stanley upped their target price on OUTFRONT Media from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, OUTFRONT Media presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

OUTFRONT Media Stock Performance

Shares of OUT opened at $18.68 on Tuesday. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.80. The stock has a fifty day moving average price of $17.76 and a 200-day moving average price of $16.70. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60. The firm has a market cap of $3.12 billion, a PE ratio of 31.95, a P/E/G ratio of 1.11 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings data 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. OUTFRONT Media had a return on equity of 18.07% and a net margin of 5.99%.The firm had revenue of $460.20 million during the quarter, compared to analyst estimates of $463.16 million. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 6.4%. The ex-dividend date is Friday, September 5th. OUTFRONT Media’s dividend payout ratio is currently 206.90%.

Insider Buying and Selling at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 20,109 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $15.88, for a total transaction of $319,330.92. Following the completion of the sale, the executive vice president owned 70,836 shares in the company, valued at approximately $1,124,875.68. This represents a 22.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the transaction, the executive vice president directly owned 4,170 shares in the company, valued at approximately $80,814.60. The trade was a 49.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,126 shares of company stock valued at $871,272. Company 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.