Assetmark Inc. Raises Stock Position in OUTFRONT Media Inc. (NYSE:OUT)

Assetmark Inc. increased its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 46,052.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,999 shares of the financial services provider's stock after acquiring an additional 41,908 shares during the quarter. Assetmark Inc.'s holdings in OUTFRONT Media were worth $678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OUT. Raymond James Financial Inc. acquired a new stake in OUTFRONT Media in the fourth quarter worth about $980,000. Commonwealth Equity Services LLC purchased a new position in shares of OUTFRONT Media in the 4th quarter valued at approximately $192,000. KLP Kapitalforvaltning AS purchased a new position in shares of OUTFRONT Media in the 4th quarter valued at approximately $514,000. Wellington Management Group LLP boosted its stake in OUTFRONT Media by 9.1% in the 4th quarter. Wellington Management Group LLP now owns 4,115,268 shares of the financial services provider's stock worth $73,005,000 after purchasing an additional 342,413 shares in the last quarter. Finally, Foundry Partners LLC grew its position in OUTFRONT Media by 12.6% during the 4th quarter. Foundry Partners LLC now owns 47,060 shares of the financial services provider's stock worth $835,000 after purchasing an additional 5,270 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their target price on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Citigroup restated a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Barrington Research reaffirmed an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, OUTFRONT Media currently has an average rating of "Hold" and an average target price of $18.60.

OUTFRONT Media Trading Down 1.7%

NYSE OUT opened at $17.23 on Friday. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $19.50. The company has a debt-to-equity ratio of 4.37, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $2.88 billion, a PE ratio of 11.34, a P/E/G ratio of 1.06 and a beta of 1.89. The company has a fifty day moving average of $16.85 and a 200 day moving average of $16.76.

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

OUTFRONT Media Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.0%. OUTFRONT Media's dividend payout ratio (DPR) is presently 78.95%.

Insider Activity at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 20,109 shares of OUTFRONT Media stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $15.88, for a total transaction of $319,330.92. Following the completion of the transaction, the executive vice president directly owned 70,836 shares of the company's stock, valued at $1,124,875.68. The trade was a 22.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by insiders.

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.

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