Advisors Asset Management Inc. Takes $586,000 Position in OUTFRONT Media Inc. $OUT

Key Points

• Advisors Asset Management Inc. acquired a new stake in OUTFRONT Media, purchasing 36,308 shares valued at approximately $586,000 in the first quarter.
• OUTFRONT Media reported $0.51 earnings per share (EPS) for the latest quarter, surpassing analysts' expectations by $0.03, despite quarterly revenue declining by 3.6% year-over-year.
• The company has announced a $0.30 quarterly dividend scheduled for September 30th, representing a 6.4% dividend yield, but comes with a notably high payout ratio of 206.90%.

Advisors Asset Management Inc. bought a new stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,308 shares of the financial services provider's stock, valued at approximately $586,000.

Other hedge funds also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of OUTFRONT Media during the 1st quarter worth approximately $14,177,000. Invesco Ltd. grew its position in OUTFRONT Media by 7.6% in the first quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider's stock worth $126,476,000 after acquiring an additional 555,568 shares in the last quarter. Polar Asset Management Partners Inc. boosted its position in shares of OUTFRONT Media by 247.7% during the fourth quarter. Polar Asset Management Partners Inc. now owns 677,930 shares of the financial services provider's stock valued at $12,026,000 after buying an additional 482,930 shares during the period. Westwood Holdings Group Inc. bought a new position in OUTFRONT Media in the first quarter worth approximately $7,086,000. Finally, Nuveen LLC purchased a new position in OUTFRONT Media in the first quarter worth $6,922,000.

OUTFRONT Media Price Performance

Shares of OUTFRONT Media stock opened at $18.61 on Thursday. OUTFRONT Media Inc. has a twelve month low of $12.95 and a twelve month high of $19.80. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.60. The company has a 50-day simple moving average of $18.07 and a two-hundred day simple moving average of $16.72. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 1.10 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The company had revenue of $460.20 million for the quarter, compared to the consensus estimate of $463.16 million. During the same quarter in the previous year, the company earned $0.50 EPS. OUTFRONT Media's quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, September 5th. OUTFRONT Media's payout ratio is 206.90%.

Insider Buying and Selling at OUTFRONT Media

In related news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total value of $151,704,000.00. Following the completion of the sale, the insider owned 8,913,813 shares in the company, valued at approximately $160,983,462.78. The trade was a 48.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total value of $79,961.88. Following the sale, the executive vice president owned 4,170 shares of the company's stock, valued at approximately $80,814.60. This represents a 49.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,454,126 shares of company stock worth $152,575,272 over the last 90 days. 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. Wall Street Zen upgraded shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company reiterated an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Barrington Research restated an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, August 6th. JPMorgan Chase & Co. dropped 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 note on Wednesday, May 21st. Finally, Morgan Stanley increased their price target on OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

OUTFRONT Media Company 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.

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