Envestnet Asset Management Inc. Raises Holdings in OUTFRONT Media Inc. $OUT

Envestnet Asset Management Inc. raised its stake in OUTFRONT Media Inc. (NYSE:OUT) by 44.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,695 shares of the financial services provider’s stock after purchasing an additional 59,275 shares during the period. Envestnet Asset Management Inc. owned about 0.12% of OUTFRONT Media worth $3,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Capital Management LLC purchased a new stake in shares of OUTFRONT Media during the first quarter worth approximately $22,330,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in OUTFRONT Media during the 1st quarter worth approximately $14,177,000. Boothbay Fund Management LLC purchased a new stake in shares of OUTFRONT Media in the 1st quarter valued at approximately $11,388,000. Invesco Ltd. raised its holdings in shares of OUTFRONT Media by 7.6% in the 1st quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider’s stock valued at $126,476,000 after purchasing an additional 555,568 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock valued at $80,393,000 after purchasing an additional 448,993 shares in the last quarter.

OUTFRONT Media Stock Up 1.6%

Shares of NYSE OUT opened at $22.05 on Friday. The business has a 50-day moving average price of $18.46 and a 200 day moving average price of $17.55. The stock has a market cap of $3.69 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.29 and a beta of 1.82. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 4.75. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $22.17.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The firm had revenue of $467.50 million during the quarter, compared to analysts’ expectations of $458.32 million. OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. OUTFRONT Media’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. Equities research analysts forecast that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be given a $0.30 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.20 annualized dividend and a yield of 5.4%. OUTFRONT Media’s dividend payout ratio is 176.47%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of OUTFRONT Media from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $25.00 in a research note on Wednesday. TD Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, November 11th. Citigroup reissued a “buy” rating and set a $23.00 target price (up previously from $20.00) on shares of OUTFRONT Media in a research report on Wednesday. New Street Research set a $24.00 target price on OUTFRONT Media in a research note on Tuesday. Finally, Barrington Research reiterated an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a research note on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, OUTFRONT Media currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Insiders Place Their Bets

In other news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total value of $151,704,000.00. Following the completion of the sale, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $19.38, for a total transaction of $79,961.88. Following the sale, the executive vice president owned 4,170 shares of the company’s stock, valued at $80,814.60. This trade represents a 49.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media 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.