OUTFRONT Media Inc. (NYSE:OUT) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its holdings in OUTFRONT Media Inc. by 18.9%, now owning approximately $6.11 million worth of the company's shares after selling 88,409 shares.
• FMR LLC significantly increased its stake in OUTFRONT Media by 132.5% in the last quarter, reflecting strong interest from institutional investors in the company.
• OUTFRONT Media recently declared a quarterly dividend of $0.30 per share, representing an annualized yield of 6.65% with a payout ratio of 78.95%.

Allianz Asset Management GmbH lessened its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 18.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 378,231 shares of the financial services provider's stock after selling 88,409 shares during the period. Allianz Asset Management GmbH owned approximately 0.23% of OUTFRONT Media worth $6,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of OUT. Loomis Sayles & Co. L P bought a new position in OUTFRONT Media during the fourth quarter valued at about $47,000. Sterling Capital Management LLC increased its stake in OUTFRONT Media by 672.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider's stock valued at $51,000 after buying an additional 2,522 shares during the last quarter. Rossby Financial LCC bought a new position in OUTFRONT Media in the 1st quarter valued at $74,000. Lazard Asset Management LLC bought a new stake in shares of OUTFRONT Media during the 4th quarter worth $113,000. Finally, IFP Advisors Inc raised its stake in shares of OUTFRONT Media by 97.6% during the first quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider's stock valued at $113,000 after acquiring an additional 3,313 shares during the last quarter.

Insider Buying and Selling at OUTFRONT Media

In other OUTFRONT Media news, EVP Richard H. Sauer sold 20,109 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $15.88, for a total value of $319,330.92. Following the completion of the sale, the executive vice president owned 70,836 shares in the company, valued at approximately $1,124,875.68. This represents a 22.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by company insiders.

OUTFRONT Media Trading Down 0.6%

OUT traded down $0.11 during midday trading on Thursday, reaching $17.37. 274,080 shares of the company were exchanged, compared to its average volume of 1,568,524. The stock has a market capitalization of $2.90 billion, a P/E ratio of 11.42, a PEG ratio of 1.08 and a beta of 1.87. The company has a debt-to-equity ratio of 4.37, a quick ratio of 0.61 and a current ratio of 0.61. The stock's 50-day simple moving average is $16.78 and its 200 day simple moving average is $16.77. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $19.50.

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

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, June 6th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend was Friday, June 6th. OUTFRONT Media's dividend payout ratio is presently 78.95%.

Analyst Ratings Changes

OUT has been the topic of a number of research reports. Citigroup reiterated a "buy" rating and issued a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Morgan Stanley decreased their price target on shares of OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Wall Street Zen downgraded shares of OUTFRONT Media from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $18.60.

About OUTFRONT Media

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.