Braun Stacey Associates Inc. Takes Position in OUTFRONT Media Inc. $OUT

Key Points

• Braun Stacey Associates acquired 570,867 OUTFRONT Media shares worth approximately $18.7 million, representing about 0.32% of the company. Other institutional investors also initiated or increased positions during the second quarter.
• Analysts maintain a broadly positive outlook, with six Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $34.00.
• OUTFRONT Media exceeded quarterly earnings and revenue expectations, while raising its quarterly dividend from $0.30 to $0.33 per share, equivalent to a 4.5% annualized yield.

Braun Stacey Associates Inc. acquired a new position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 570,867 shares of the financial services provider's stock, valued at approximately $18,702,000. Braun Stacey Associates Inc. owned approximately 0.32% of OUTFRONT Media as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in OUTFRONT Media during the second quarter valued at about $5,979,000. Trust Co. of Vermont bought a new stake in OUTFRONT Media in the second quarter worth about $34,000. Bank of New York Mellon Corp acquired a new stake in OUTFRONT Media in the 2nd quarter valued at about $56,839,000. Hennion & Walsh Asset Management Inc. lifted its holdings in OUTFRONT Media by 94.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 30,793 shares of the financial services provider's stock valued at $1,009,000 after acquiring an additional 14,993 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of OUTFRONT Media by 4.6% during the 2nd quarter. GAMMA Investing LLC now owns 10,048 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 440 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently commented on OUT shares. Barrington Research set a $38.00 target price on shares of OUTFRONT Media in a research note on Tuesday, May 12th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $38.00 price target on shares of OUTFRONT Media in a report on Wednesday, July 22nd. Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a research report on Friday, May 8th. Wells Fargo & Company raised their price objective on OUTFRONT Media from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, TD Cowen restated a "buy" rating and issued a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Insider Buying and Selling at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the transaction, the executive vice president owned 56,947 shares in the company, valued at approximately $1,826,859.76. The trade was a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Michael Norton purchased 4,130 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the transaction, the executive vice president directly owned 4,130 shares of the company's stock, valued at $127,245.30. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 20,000 shares of company stock worth $629,600. Company insiders own 0.45% of the company's stock.

OUTFRONT Media Stock Performance

Shares of OUT opened at $29.60 on Friday. OUTFRONT Media Inc. has a one year low of $16.97 and a one year high of $34.96. The company has a 50-day moving average of $31.73 and a two-hundred day moving average of $30.13. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 21.30 and a beta of 1.49. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.67 and a quick ratio of 0.67.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.30. The business had revenue of $522.50 million for the quarter, compared to analyst estimates of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The firm's revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, equities research analysts expect that OUTFRONT Media Inc. will post 2.15 earnings per share for the current year.

OUTFRONT Media Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, September 4th. This is a positive change from OUTFRONT Media's previous quarterly dividend of $0.30. OUTFRONT Media's dividend payout ratio is presently 86.33%.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.

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