OUTFRONT Media Inc. (NYSE:OUT) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,614,506 shares of the financial services provider's stock after selling 104,579 shares during the period. DAVENPORT & Co LLC owned 0.97% of OUTFRONT Media worth $26,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OUT. Loomis Sayles & Co. L P acquired a new stake in OUTFRONT Media during the 4th quarter worth $47,000. Sterling Capital Management LLC boosted its stake in OUTFRONT Media by 672.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 2,522 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of OUTFRONT Media by 155.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,198 shares of the financial services provider's stock worth $73,000 after purchasing an additional 2,555 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of OUTFRONT Media during the fourth quarter worth about $113,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of OUTFRONT Media during the fourth quarter worth about $192,000.

OUTFRONT Media Price Performance

Shares of OUTFRONT Media stock traded up $0.50 during trading on Wednesday, hitting $17.14. 1,388,579 shares of the company were exchanged, compared to its average volume of 1,659,978. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $19.98. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.37. The firm has a 50 day moving average price of $15.96 and a 200 day moving average price of $16.85. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 0.99 and a beta of 1.87.

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). OUTFRONT Media had a return on equity of 42.24% and a net margin of 14.60%. The firm had revenue of $390.70 million during the quarter, compared to analysts' expectations of $396.17 million. On average, equities analysts expect that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date was Friday, June 6th. OUTFRONT Media's payout ratio is currently 78.95%.

Insider Activity

In other news, EVP Richard H. Sauer sold 20,109 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $15.88, for a total value of $319,330.92. Following the transaction, the executive vice president owned 70,836 shares of the company's stock, valued at approximately $1,124,875.68. This trade represents a 22.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley cut their price target on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Barrington Research reiterated an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. Wall Street Zen downgraded shares of OUTFRONT Media from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Wells Fargo & Company decreased their price target on OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, Citigroup reiterated a "buy" rating and set a $19.00 target price (up previously from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.23.

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.