Diversify Wealth Management LLC Invests $1.80 Million in OUTFRONT Media Inc. $OUT

Key Points

• Diversify Wealth Management LLC opened a new position in OUTFRONT Media, buying 67,992 shares valued at about $1.8 million in the first quarter.
• Institutional interest remains strong, with firms like Vanguard, Cohen & Steers, State Street, and Goldman Sachs increasing their stakes in the company.
• OUTFRONT Media posted better-than-expected quarterly results, earning $0.34 per share versus estimates of $0.28, while revenue rose 10% year over year; the stock also pays a quarterly dividend of $0.30 per share.

Diversify Wealth Management LLC acquired a new position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 67,992 shares of the financial services provider's stock, valued at approximately $1,802,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in OUTFRONT Media by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider's stock valued at $545,983,000 after buying an additional 1,131,954 shares during the period. Cohen & Steers Inc. grew its position in shares of OUTFRONT Media by 2.2% during the 4th quarter. Cohen & Steers Inc. now owns 22,314,228 shares of the financial services provider's stock worth $537,779,000 after buying an additional 486,192 shares during the period. State Street Corp increased its stake in shares of OUTFRONT Media by 2.1% in the 4th quarter. State Street Corp now owns 5,483,013 shares of the financial services provider's stock valued at $132,141,000 after acquiring an additional 111,084 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock valued at $80,393,000 after acquiring an additional 448,993 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of OUTFRONT Media by 8.4% in the 4th quarter. Wellington Management Group LLP now owns 4,309,133 shares of the financial services provider's stock valued at $103,850,000 after acquiring an additional 335,265 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on OUT shares. Wall Street Zen lowered shares of OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 20th. Morgan Stanley set a $37.00 target price on shares of OUTFRONT Media in a research note on Friday, May 8th. Barrington Research set a $38.00 target price on shares of OUTFRONT Media in a report on Tuesday, May 12th. Finally, TD Cowen reiterated a "buy" rating and issued a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, OUTFRONT Media currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

Insider Buying and Selling at OUTFRONT Media

In related news, EVP James Michael Norton acquired 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 acquisition, the executive vice president directly owned 4,130 shares in the company, valued at approximately $127,245.30. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of the business's stock in a transaction on 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 directly owned 56,947 shares in the company, valued at $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 have sold 20,000 shares of company stock valued at $629,600 in the last three months. 0.47% of the stock is owned by insiders.

OUTFRONT Media Stock Up 0.0%

NYSE:OUT opened at $33.15 on Wednesday. OUTFRONT Media Inc. has a 1 year low of $16.64 and a 1 year high of $34.96. The stock has a 50-day moving average price of $32.20 and a two-hundred day moving average price of $28.64. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 1.57 and a beta of 1.48. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The company had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. During the same quarter last year, the firm posted $0.14 earnings per share. OUTFRONT Media's revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that OUTFRONT Media Inc. will post 2.12 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Friday, June 5th. OUTFRONT Media's dividend payout ratio is 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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