Algert Global LLC Has $10.38 Million Stock Position 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 lowered its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 30.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 642,782 shares of the financial services provider's stock after selling 276,031 shares during the period. Algert Global LLC owned 0.38% of OUTFRONT Media worth $10,375,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of OUT. Benchstone Capital Management LP bought a new position in OUTFRONT Media during the fourth quarter worth about $29,038,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of OUTFRONT Media during the first quarter worth approximately $14,177,000. Invesco Ltd. boosted its holdings in shares of OUTFRONT Media by 7.6% during 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 during the period. Polar Asset Management Partners Inc. boosted its holdings 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 worth $12,026,000 after acquiring an additional 482,930 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in shares of OUTFRONT Media during the first quarter worth approximately $7,086,000.

Insider Buying and Selling

In other OUTFRONT Media news, EVP Richard H. Sauer sold 29,891 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $471,978.89. Following the completion of the transaction, the executive vice president directly owned 90,945 shares in the company, valued at $1,436,021.55. The trade was a 24.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OUT. Wall Street Zen upgraded OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup restated a "buy" rating and set a $19.00 price objective (up previously from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Barrington Research restated an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Wednesday, August 6th. Wells Fargo & Company restated an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Finally, Morgan Stanley boosted their price objective on OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, OUTFRONT Media currently has an average rating of "Moderate Buy" and an average price target of $19.00.

OUTFRONT Media Price Performance

Shares of NYSE OUT traded up $0.1740 during midday trading on Wednesday, reaching $18.9940. The company's stock had a trading volume of 1,909,373 shares, compared to its average volume of 1,590,515. 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 fifty-two week low of $12.95 and a fifty-two week high of $19.50. The business's 50 day moving average price is $17.23 and its two-hundred day moving average price is $16.71. The company has a market cap of $3.18 billion, a P/E ratio of 32.49, a P/E/G ratio of 1.12 and a beta of 1.89.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share 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 during the quarter, compared to the consensus estimate of $463.16 million. During the same period in the previous year, the business earned $0.50 earnings per share. The firm's quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, September 5th. OUTFRONT Media's payout ratio is presently 206.90%.

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.