Allianz Asset Management GmbH Cuts Stock Position in OUTFRONT Media Inc. $OUT

Allianz Asset Management GmbH cut its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 33.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,398 shares of the financial services provider’s stock after selling 125,448 shares during the quarter. Allianz Asset Management GmbH owned 0.15% of OUTFRONT Media worth $4,551,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Arizona State Retirement System lifted its stake in OUTFRONT Media by 1.4% in the third quarter. Arizona State Retirement System now owns 42,023 shares of the financial services provider’s stock worth $770,000 after acquiring an additional 591 shares during the last quarter. CWM LLC grew its position in OUTFRONT Media by 8.3% during the 3rd quarter. CWM LLC now owns 8,229 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 631 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of OUTFRONT Media by 1.8% during the second quarter. Maryland State Retirement & Pension System now owns 40,753 shares of the financial services provider’s stock worth $665,000 after buying an additional 740 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of OUTFRONT Media by 2.1% in the second quarter. Bank of Montreal Can now owns 36,066 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 758 shares during the period. Finally, Yousif Capital Management LLC increased its stake in OUTFRONT Media by 1.6% in the 2nd quarter. Yousif Capital Management LLC now owns 51,633 shares of the financial services provider’s stock valued at $843,000 after buying an additional 791 shares during the period.

Insider Buying and Selling

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $24.49, for a total transaction of $276,026.79. Following the completion of the sale, the director owned 47,515 shares in the company, valued at $1,163,642.35. This trade represents a 19.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.47% of the company’s stock.

OUTFRONT Media Stock Performance

OUTFRONT Media stock opened at $26.38 on Wednesday. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $27.04. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 38.79, a price-to-earnings-growth ratio of 1.32 and a beta of 1.56. The firm’s fifty day moving average price is $24.43 and its 200 day moving average price is $20.88.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of OUTFRONT Media in a research report on Thursday, December 18th. Zacks Research upgraded shares of OUTFRONT Media from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. TD Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Tuesday, November 11th. Barrington Research reissued an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research report on Friday, November 7th. Finally, Wall Street Zen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $24.57.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.