Bank of New York Mellon Corp Sells 16,411 Shares of OUTFRONT Media Inc. $OUT

Bank of New York Mellon Corp trimmed its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 1.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,629,472 shares of the financial services provider’s stock after selling 16,411 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of OUTFRONT Media worth $43,181,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new position in OUTFRONT Media during the first quarter worth about $299,000. Bleakley Financial Group LLC bought a new stake in OUTFRONT Media during the first quarter worth $272,000. Teachers Retirement System of The State of Kentucky boosted its position in OUTFRONT Media by 199.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 109,420 shares of the financial services provider’s stock worth $2,900,000 after purchasing an additional 72,891 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in OUTFRONT Media in the first quarter worth $1,802,000. Finally, Barnett & Company Inc. grew its stake in OUTFRONT Media by 46.8% in the 1st quarter. Barnett & Company Inc. now owns 97,300 shares of the financial services provider’s stock valued at $2,578,000 after purchasing an additional 31,000 shares during the period.

Insider Buying and Selling at OUTFRONT Media

In other OUTFRONT Media news, EVP Richard H. Sauer sold 5,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total value of $160,400.00. Following the completion of the sale, the executive vice president owned 56,947 shares in the company, valued at approximately $1,826,859.76. This represents a 8.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James Michael Norton bought 4,130 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the purchase, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 20,000 shares of company stock valued at $629,600 over the last 90 days. 0.45% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on OUT shares. TD Cowen restated a “buy” rating and set a $38.00 price target (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Barrington Research set a $38.00 price target on shares of OUTFRONT Media in a report on Tuesday, May 12th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $38.00 price objective on shares of OUTFRONT Media in a research note on Wednesday. Morgan Stanley set a $37.00 target price on OUTFRONT Media in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded OUTFRONT Media from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.57.

OUTFRONT Media Stock Up 0.3%

Shares of OUTFRONT Media stock opened at $31.97 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. OUTFRONT Media Inc. has a 12-month low of $16.64 and a 12-month high of $34.96. The company has a market cap of $5.63 billion, a P/E ratio of 30.45, a PEG ratio of 1.51 and a beta of 1.48. The company’s fifty day simple moving average is $32.23 and its two-hundred day simple moving average is $29.09.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. The company had revenue of $429.60 million for the quarter, compared to analysts’ expectations of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. Research analysts anticipate that OUTFRONT Media Inc. will post 2.11 EPS for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, June 5th. OUTFRONT Media’s payout ratio is 114.29%.

About OUTFRONT Media

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.