Penserra Capital Management LLC Makes New $929,000 Investment in OUTFRONT Media Inc. (NYSE:OUT)

Penserra Capital Management LLC acquired a new stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,580 shares of the financial services provider's stock, valued at approximately $929,000.

A number of other institutional investors and hedge funds have also bought and sold shares of OUT. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in OUTFRONT Media by 0.4% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 212,014 shares of the financial services provider's stock worth $3,422,000 after acquiring an additional 915 shares during the period. Pacific Heights Asset Management LLC grew its holdings in OUTFRONT Media by 122.2% during the 1st quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider's stock worth $8,070,000 after acquiring an additional 275,000 shares during the period. Principal Financial Group Inc. grew its holdings in OUTFRONT Media by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider's stock worth $11,093,000 after acquiring an additional 16,470 shares during the period. Rossby Financial LCC acquired a new stake in OUTFRONT Media during the 1st quarter worth about $74,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in OUTFRONT Media by 7.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,248,114 shares of the financial services provider's stock worth $36,285,000 after acquiring an additional 153,617 shares during the period.

OUTFRONT Media Stock Up 0.5%

Shares of OUT stock traded up $0.08 on Friday, reaching $17.61. 1,449,866 shares of the company were exchanged, compared to its average volume of 1,661,676. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.07 and a beta of 1.87. The company has a debt-to-equity ratio of 4.37, a current ratio of 0.61 and a quick ratio of 0.61. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $19.98. The company has a 50-day moving average of $16.28 and a 200-day moving average of $16.76.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The company had revenue of $390.70 million during the quarter, compared to the consensus estimate of $396.17 million. OUTFRONT Media had a net margin of 14.60% and a return on equity of 42.24%. Analysts anticipate that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, June 6th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.81%. The ex-dividend date was Friday, June 6th. OUTFRONT Media's dividend payout ratio (DPR) is presently 78.95%.

Insiders Place Their Bets

In other OUTFRONT Media news, EVP Richard H. Sauer sold 29,891 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $471,978.89. Following the transaction, the executive vice president directly owned 90,945 shares in the company, valued at approximately $1,436,021.55. This trade represents a 24.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

OUT has been the subject of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a report on Wednesday, April 23rd. Morgan Stanley decreased their price target on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded OUTFRONT Media from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Citigroup reissued a "buy" rating and set a $19.00 price objective (up previously from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $18.23.

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.