Corient Private Wealth LP Raises Holdings in OUTFRONT Media Inc. $OUT

Key Points

• Corient Private Wealth increased its OUTFRONT Media stake by 831.4% in the second quarter, acquiring 117,306 additional shares and bringing its holdings to 131,416 shares valued at approximately $4.3 million.
• OUTFRONT reported strong quarterly results, with earnings of $0.68 per share and revenue of $522.5 million, beating analyst estimates; revenue rose 13.5% year over year.
• The company raised its quarterly dividend from $0.30 to $0.33 per share, implying a 4.7% annualized yield. Analysts maintain a “Moderate Buy” consensus with a $34 average price target.

Corient Private Wealth LP lifted its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 831.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 131,416 shares of the financial services provider's stock after purchasing an additional 117,306 shares during the quarter. Corient Private Wealth LP owned about 0.07% of OUTFRONT Media worth $4,305,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of OUT. Gamco Investors INC. ET AL lifted its stake in OUTFRONT Media by 0.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 51,648 shares of the financial services provider's stock valued at $1,369,000 after acquiring an additional 351 shares during the period. GAMMA Investing LLC raised its stake 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 buying an additional 440 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in shares of OUTFRONT Media by 0.7% in the 1st quarter. Convergence Investment Partners LLC now owns 78,004 shares of the financial services provider's stock valued at $2,067,000 after buying an additional 537 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of OUTFRONT Media by 74.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider's stock worth $43,000 after buying an additional 686 shares during the last quarter. Finally, Abel Hall LLC boosted its stake in shares of OUTFRONT Media by 5.9% in the first quarter. Abel Hall LLC now owns 16,518 shares of the financial services provider's stock worth $438,000 after buying an additional 926 shares during the last quarter.

OUTFRONT Media Price Performance

NYSE:OUT opened at $28.02 on Friday. The stock has a 50 day moving average of $30.56 and a two-hundred day moving average of $30.40. OUTFRONT Media Inc. has a 12 month low of $16.97 and a 12 month high of $34.96. The firm has a market cap of $4.93 billion, a P/E ratio of 20.15 and a beta of 1.48. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50.

OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.38 by $0.30. OUTFRONT Media had a return on equity of 37.44% and a net margin of 12.66%.The firm had revenue of $522.50 million during the quarter, compared to analysts' expectations of $509.61 million. During the same period in the previous year, the business earned $0.51 earnings per share. The firm's revenue for the quarter was up 13.5% on a year-over-year basis. On average, analysts expect that OUTFRONT Media Inc. will post 2.18 earnings per share for the current fiscal year.

OUTFRONT Media Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, September 4th. This is a boost from OUTFRONT Media's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. OUTFRONT Media's dividend payout ratio (DPR) is presently 94.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. TD Cowen reissued a "buy" rating and set a $40.00 price target (up from $38.00) on shares of OUTFRONT Media in a report on Thursday, August 6th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $38.00 price objective on shares of OUTFRONT Media in a report on Wednesday, July 22nd. Citigroup reiterated a "buy" rating on shares of OUTFRONT Media in a research report on Tuesday, September 8th. Wells Fargo & Company increased their target price on shares of OUTFRONT Media from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen cut OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 26th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, OUTFRONT Media has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Insider Transactions at OUTFRONT Media

In related news, EVP Richard Sauer sold 5,000 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total transaction of $160,400.00. Following the completion of the sale, the executive vice president owned 56,947 shares of the company's stock, valued at approximately $1,826,859.76. This represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Emilio Bonanni sold 3,385 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $29.82, for a total transaction of $100,940.70. Following the sale, the executive vice president directly owned 10,420 shares of the company's stock, valued at approximately $310,724.40. This represents a 24.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,385 shares of company stock worth $416,991 over the last 90 days. 0.45% of the stock is currently owned by company insiders.

About OUTFRONT Media

OUTFRONT Media Inc is an out-of-home (OOH) advertising company that provides brands and agencies with advertising space across physical and digital media. Its inventory includes billboards, digital displays, transit advertising, street furniture, and other media assets located in high-traffic areas.

The company's offerings include traditional static advertising, digital out-of-home campaigns, place-based media, and experiential marketing solutions. OUTFRONT also uses audience insights, location data, and technology to help advertisers plan, target, measure, and optimize campaigns across its media network.

OUTFRONT serves advertisers primarily in the United States and Canada, with media assets in major metropolitan markets and transportation systems.

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