Dimensional Fund Advisors LP Increases Stock Holdings in OUTFRONT Media Inc. $OUT

Key Points

• Dimensional Fund Advisors increased its OUTFRONT Media position by 6.4% in the first quarter, adding 133,960 shares and bringing its holdings to 2.21 million shares, or 1.26% of the company.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating. OUTFRONT has a consensus “Moderate Buy” rating and an average price target of $32.57.
• OUTFRONT reported quarterly EPS of $0.34, beating estimates of $0.28, while revenue rose 10% year over year to $429.6 million. The company also paid a $0.30 quarterly dividend, equivalent to a 3.8% annualized yield.

Dimensional Fund Advisors LP raised its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,211,619 shares of the financial services provider's stock after purchasing an additional 133,960 shares during the quarter. Dimensional Fund Advisors LP owned 1.26% of OUTFRONT Media worth $58,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Advisory Services Network LLC purchased a new position in shares of OUTFRONT Media in the third quarter worth approximately $29,000. Farther Finance Advisors LLC increased its holdings in OUTFRONT Media by 157.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,431 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in OUTFRONT Media during the fourth quarter valued at approximately $71,000. Harbor Capital Advisors Inc. raised its position in OUTFRONT Media by 224.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,853 shares of the financial services provider's stock worth $189,000 after acquiring an additional 5,432 shares during the period. Finally, State of Wyoming raised its position in OUTFRONT Media by 155.5% in the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider's stock worth $130,000 after acquiring an additional 4,853 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OUT. Barrington Research set a $38.00 price target 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 target price on shares of OUTFRONT Media in a report on Wednesday, July 22nd. TD Cowen reiterated a "buy" rating and set a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Morgan Stanley set a $37.00 price target on OUTFRONT Media in a report on Friday, May 8th. 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, OUTFRONT Media presently has a consensus rating of "Moderate Buy" and an average target price of $32.57.

Insider Buying and Selling at OUTFRONT Media

In other OUTFRONT Media news, EVP James Michael Norton purchased 4,130 shares of the business's stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $30.81 per share, for a total transaction of $127,245.30. Following the purchase, the executive vice president owned 4,130 shares of the company's stock, valued at approximately $127,245.30. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard H. Sauer sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the sale, the executive vice president directly owned 56,947 shares in the company, valued at approximately $1,826,859.76. This represents a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 20,000 shares of company stock valued at $629,600 in the last ninety days. 0.45% of the stock is currently owned by insiders.

OUTFRONT Media Price Performance

Shares of NYSE:OUT opened at $31.87 on Friday. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82. OUTFRONT Media Inc. has a 1-year low of $16.64 and a 1-year high of $34.96. The company has a market capitalization of $5.61 billion, a P/E ratio of 30.35, a P/E/G ratio of 1.51 and a beta of 1.48. The firm's 50 day simple moving average is $32.18 and its two-hundred day simple moving average is $29.36.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. The firm had revenue of $429.60 million during the quarter, compared to analysts' expectations of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 earnings per share. Research analysts expect that OUTFRONT Media Inc. will post 2.11 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.20 annualized dividend and a yield of 3.8%. OUTFRONT Media's dividend payout ratio is currently 114.29%.

About OUTFRONT Media

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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