Algert Global LLC Lowers Holdings in OUTFRONT Media Inc. $OUT

Key Points

• Algert Global LLC reduced its holdings in OUTFRONT Media Inc. by 30%, now owning approximately 642,782 shares valued at $10.4 million as of the latest SEC filing.
• Other institutional investors are also increasing their stakes, with Principal Financial Group Inc. growing its position by 2.5% and GAMMA Investing LLC boosting theirs by an astonishing 1,484.2% in the first quarter.
• OUTFRONT Media announced a quarterly dividend of $0.30, representing a 6.4% dividend yield, despite a high dividend payout ratio of 206.90%.

Algert Global LLC lessened its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 30.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 642,782 shares of the financial services provider's stock after selling 276,031 shares during the quarter. Algert Global LLC owned about 0.38% of OUTFRONT Media worth $10,375,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in OUTFRONT Media by 2.5% in the first quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider's stock valued at $11,093,000 after acquiring an additional 16,470 shares in the last quarter. GAMMA Investing LLC raised its holdings in OUTFRONT Media by 1,484.2% in the first quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider's stock valued at $971,000 after acquiring an additional 56,342 shares in the last quarter. SG Americas Securities LLC raised its holdings in OUTFRONT Media by 429.8% in the first quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider's stock valued at $529,000 after acquiring an additional 26,577 shares in the last quarter. Pacific Heights Asset Management LLC raised its holdings in OUTFRONT Media by 122.2% in the first quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider's stock valued at $8,070,000 after acquiring an additional 275,000 shares in the last quarter. Finally, New Age Alpha Advisors LLC raised its holdings in OUTFRONT Media by 162.1% in the first quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider's stock valued at $1,996,000 after acquiring an additional 76,486 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on OUT shares. Citigroup reaffirmed a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Morgan Stanley raised their target price on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Wall Street Zen raised shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. 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 report on Wednesday, May 21st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Insider Activity at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 29,891 shares of OUTFRONT Media stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total value of $471,978.89. Following the transaction, the executive vice president directly owned 90,945 shares of the company's stock, valued at $1,436,021.55. The trade was a 24.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

OUTFRONT Media Stock Up 3.1%

OUT stock traded up $0.5780 during midday trading on Friday, reaching $19.4580. 1,257,761 shares of the company were exchanged, compared to its average volume of 1,584,951. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61. OUTFRONT Media Inc. has a 1-year low of $12.95 and a 1-year high of $19.80. The stock's 50-day simple moving average is $17.34 and its 200 day simple moving average is $16.73. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 1.13 and a beta of 1.89.

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

OUTFRONT Media Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, September 5th. OUTFRONT Media's payout ratio is presently 206.90%.

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.