Voya Investment Management LLC Increases Stake in OUTFRONT Media Inc. $OUT

Voya Investment Management LLC lifted its stake in OUTFRONT Media Inc. (NYSE:OUT) by 45.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,623 shares of the financial services provider’s stock after acquiring an additional 41,043 shares during the quarter. Voya Investment Management LLC owned 0.08% of OUTFRONT Media worth $2,108,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in OUTFRONT Media by 2.5% in the first quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider’s stock valued at $11,093,000 after acquiring an additional 16,470 shares during the period. GAMMA Investing LLC increased its position in shares of OUTFRONT Media by 1,484.2% during the 1st quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 56,342 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of OUTFRONT Media by 429.8% in the first quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider’s stock worth $529,000 after buying an additional 26,577 shares during the last quarter. 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 valued at $8,070,000 after buying an additional 275,000 shares during the period. Finally, New Age Alpha Advisors LLC increased its holdings in OUTFRONT Media by 162.1% during the first quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider’s stock valued at $1,996,000 after buying an additional 76,486 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of OUTFRONT Media from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Barrington Research reaffirmed an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a report on Wednesday, August 6th. Citigroup reaffirmed a “buy” rating and issued a $19.00 target price (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Wall Street Zen raised OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

OUTFRONT Media Stock Down 0.6%

NYSE OUT opened at $18.69 on Monday. The business has a fifty day moving average price of $18.30 and a 200 day moving average price of $16.73. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $19.80. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market cap of $3.13 billion, a P/E ratio of 31.97, a P/E/G ratio of 1.09 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. OUTFRONT Media had a return on equity of 18.07% and a net margin of 5.99%.The business had revenue of $460.20 million during the quarter, compared to the consensus estimate of $463.16 million. During the same period last year, the company earned $0.50 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.4%. OUTFRONT Media’s dividend payout ratio is currently 206.90%.

Insiders Place Their Bets

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total transaction 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. This represents a 49.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total value of $151,704,000.00. Following the transaction, the insider owned 8,913,813 shares of the company’s stock, valued at approximately $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.