Bailard Inc. Reduces Stake in OUTFRONT Media Inc. (NYSE:OUT)

Bailard Inc. trimmed its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 53.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,885 shares of the financial services provider's stock after selling 20,396 shares during the quarter. Bailard Inc.'s holdings in OUTFRONT Media were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OUT. Signaturefd LLC grew its position in shares of OUTFRONT Media by 8.5% during the 1st quarter. Signaturefd LLC now owns 9,203 shares of the financial services provider's stock valued at $149,000 after acquiring an additional 722 shares during the period. M&T Bank Corp grew its holdings in OUTFRONT Media by 12.4% during the first quarter. M&T Bank Corp now owns 12,665 shares of the financial services provider's stock valued at $204,000 after purchasing an additional 1,397 shares during the period. Envestnet Asset Management Inc. purchased a new stake in OUTFRONT Media in the first quarter worth about $2,153,000. Penserra Capital Management LLC purchased a new stake in OUTFRONT Media in the first quarter worth about $929,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of OUTFRONT Media by 0.4% during the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 212,014 shares of the financial services provider's stock valued at $3,422,000 after buying an additional 915 shares in the last quarter.

Insider Buying and Selling at OUTFRONT Media

In related news, EVP Richard H. Sauer sold 29,891 shares of the company's stock in a transaction 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 sale, the executive vice president owned 90,945 shares of the company's stock, valued at $1,436,021.55. This represents a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on OUT. JPMorgan Chase & Co. reduced their target price on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Barrington Research reissued an "outperform" rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. Wells Fargo & Company restated an "overweight" rating on shares of OUTFRONT Media in a research note on Sunday. Citigroup reiterated a "buy" rating and issued a $19.00 price target (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Finally, Wall Street Zen cut OUTFRONT Media from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, OUTFRONT Media has an average rating of "Hold" and an average target price of $18.60.

OUTFRONT Media Price Performance

Shares of OUT traded down $0.15 during midday trading on Thursday, hitting $17.92. 786,665 shares of the company traded hands, compared to its average volume of 1,407,410. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.09 and a beta of 1.87. The firm has a 50 day moving average of $16.65 and a 200-day moving average of $16.77. The company has a debt-to-equity ratio of 4.37, a quick ratio of 0.61 and a current ratio of 0.61. OUTFRONT Media Inc. has a 52 week low of $12.95 and a 52 week high of $19.50.

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

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, June 6th were given a dividend of $0.30 per share. The ex-dividend date was Friday, June 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.70%. OUTFRONT Media's dividend payout ratio is currently 78.95%.

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.