OUTFRONT Media Inc. $OUT Stake Cut by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 32.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,957 shares of the financial services provider’s stock after selling 20,000 shares during the quarter. Ensign Peak Advisors Inc’s holdings in OUTFRONT Media were worth $685,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in OUTFRONT Media during the 1st quarter worth $28,000. Caitong International Asset Management Co. Ltd raised its stake in OUTFRONT Media by 158.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,041 shares during the period. Rossby Financial LCC boosted its position in OUTFRONT Media by 42.4% during the 2nd quarter. Rossby Financial LCC now owns 6,953 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,071 shares during the period. GAMMA Investing LLC increased its stake in OUTFRONT Media by 113.7% in the 2nd quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider’s stock valued at $130,000 after buying an additional 4,238 shares during the period. Finally, EMC Capital Management purchased a new stake in shares of OUTFRONT Media during the second quarter worth $174,000.

Analysts Set New Price Targets

OUT has been the topic of several analyst reports. Citigroup reissued a “buy” rating and set a $23.00 target price (up from $20.00) on shares of OUTFRONT Media in a research report on Wednesday, November 12th. Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Tuesday, November 11th. TD Cowen upgraded 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. New Street Research set a $24.00 price target on shares of OUTFRONT Media in a report on Tuesday, November 11th. Finally, Morgan Stanley raised their target price on shares of OUTFRONT Media from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

OUTFRONT Media Stock Up 1.8%

Shares of OUTFRONT Media stock opened at $23.53 on Monday. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $23.57. The business’s 50 day simple moving average is $19.23 and its 200 day simple moving average is $18.06. The firm has a market cap of $3.94 billion, a PE ratio of 34.60, a P/E/G ratio of 1.33 and a beta of 1.57. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.79 and a current ratio of 0.79.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.21). OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The business had revenue of $467.50 million during the quarter, compared to analyst estimates of $458.32 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 5.1%. OUTFRONT Media’s dividend payout ratio (DPR) is currently 176.47%.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,270 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $22.18, for a total transaction of $249,968.60. Following the completion of the sale, the director owned 58,786 shares of the company’s stock, valued at $1,303,873.48. This trade represents a 16.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the completion of the transaction, the insider owned 8,913,813 shares in the company, valued at approximately $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.47% of the company’s stock.

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.