OUTFRONT Media Inc. $OUT Stock Holdings Increased by Gabelli Funds LLC

Gabelli Funds LLC lifted its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 296.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 345,550 shares of the financial services provider’s stock after purchasing an additional 258,483 shares during the quarter. Gabelli Funds LLC owned 0.21% of OUTFRONT Media worth $5,639,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. SVB Wealth LLC bought a new position in OUTFRONT Media in the 1st quarter valued at about $28,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of OUTFRONT Media by 158.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,041 shares during the period. Rossby Financial LCC boosted its holdings in shares of OUTFRONT Media by 42.4% in the second quarter. Rossby Financial LCC now owns 6,953 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,071 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of OUTFRONT Media by 113.7% during the second quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 4,238 shares during the period. Finally, EMC Capital Management acquired a new position in shares of OUTFRONT Media during the second quarter valued at approximately $174,000.

OUTFRONT Media Trading Up 0.6%

Shares of NYSE OUT opened at $23.42 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $23.70. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 1.31 and a beta of 1.57. The business has a fifty day simple moving average of $19.91 and a 200-day simple moving average of $18.41.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data 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 return on equity of 21.56% and a net margin of 6.86%.The company had revenue of $467.50 million for the quarter, compared to analyst estimates of $458.32 million. During the same quarter in the previous year, the firm posted $0.19 EPS. OUTFRONT Media’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.1%. OUTFRONT Media’s payout ratio is currently 176.47%.

Insider Activity at OUTFRONT Media

In related news, Director Manuel A. Diaz sold 11,270 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $22.18, for a total value of $249,968.60. Following the completion of the sale, the director owned 58,786 shares in the company, valued at approximately $1,303,873.48. This represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OUT. Citigroup reaffirmed a “buy” rating and set a $23.00 price target (up from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. Morgan Stanley upped their price objective on OUTFRONT Media from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Barrington Research reaffirmed an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a report on Friday, November 7th. New Street Research set a $24.00 price target on shares of OUTFRONT Media in a research report on Tuesday, November 11th. Finally, Wall Street Zen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

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.