Diversify Advisory Services LLC Reduces Stock Position in OUTFRONT Media Inc. (NYSE:OUT)

Diversify Advisory Services LLC reduced its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,267 shares of the financial services provider's stock after selling 15,923 shares during the period. Diversify Advisory Services LLC's holdings in OUTFRONT Media were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OUT. FMR LLC lifted its stake in OUTFRONT Media by 132.5% in the fourth quarter. FMR LLC now owns 15,604,202 shares of the financial services provider's stock valued at $276,819,000 after buying an additional 8,892,411 shares during the period. Cohen & Steers Inc. boosted its holdings in OUTFRONT Media by 87.8% during the 4th quarter. Cohen & Steers Inc. now owns 5,243,211 shares of the financial services provider's stock worth $93,015,000 after acquiring an additional 2,450,632 shares during the last quarter. Wellington Management Group LLP increased its position in shares of OUTFRONT Media by 9.1% during the 4th quarter. Wellington Management Group LLP now owns 4,115,268 shares of the financial services provider's stock valued at $73,005,000 after purchasing an additional 342,413 shares during the last quarter. Lasalle Investment Management Securities LLC increased its position in shares of OUTFRONT Media by 2.1% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 3,146,553 shares of the financial services provider's stock valued at $55,820,000 after purchasing an additional 64,072 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of OUTFRONT Media by 7.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,248,114 shares of the financial services provider's stock valued at $36,285,000 after purchasing an additional 153,617 shares during the last quarter.

OUTFRONT Media Stock Down 0.7%

Shares of OUT stock traded down $0.14 during mid-day trading on Thursday, hitting $17.93. The company's stock had a trading volume of 365,276 shares, compared to its average volume of 1,588,235. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $19.50. The business has a 50-day moving average price of $16.62 and a 200 day moving average price 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. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.08 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share 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 the consensus estimate of $396.17 million. OUTFRONT Media had a net margin of 14.60% and a return on equity of 42.24%. Research analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.69%. The ex-dividend date was Friday, June 6th. OUTFRONT Media's dividend payout ratio is currently 78.95%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OUT shares. Citigroup reiterated a "buy" rating and set a $19.00 price target (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Wells Fargo & Company reissued an "overweight" rating on shares of OUTFRONT Media in a report on Sunday. Morgan Stanley decreased their price target on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Finally, Barrington Research restated an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $18.60.

Insider Buying and Selling

In other news, EVP Richard H. Sauer sold 29,891 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $471,978.89. Following the completion of the sale, the executive vice president directly owned 90,945 shares of the company's stock, valued at $1,436,021.55. This trade represents a 24.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.47% of the company's stock.

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.