133,420 Shares in OUTFRONT Media Inc. (NYSE:OUT) Bought by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. acquired a new stake in OUTFRONT Media Inc., purchasing 133,420 shares valued at approximately $2.15 million, representing 0.08% ownership of the company.
• OUTFRONT Media recently reported a quarterly EPS of $0.14, missing the consensus estimate by $0.01, with revenues of $390.7 million compared to a forecast of $396.17 million.
• OUTFRONT Media announced a quarterly dividend of $0.30, with a current annualized yield of 6.77% and a dividend payout ratio of 78.95%.

Envestnet Asset Management Inc. bought a new stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 133,420 shares of the financial services provider's stock, valued at approximately $2,153,000. Envestnet Asset Management Inc. owned approximately 0.08% of OUTFRONT Media as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. FMR LLC increased its stake in OUTFRONT Media by 132.5% during the 4th quarter. FMR LLC now owns 15,604,202 shares of the financial services provider's stock worth $276,819,000 after purchasing an additional 8,892,411 shares in the last quarter. Cohen & Steers Inc. increased its stake 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 purchasing an additional 2,450,632 shares in the last quarter. Wellington Management Group LLP increased its stake in 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 worth $73,005,000 after purchasing an additional 342,413 shares in the last quarter. Lasalle Investment Management Securities LLC increased its stake in 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 worth $55,820,000 after purchasing an additional 64,072 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in 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 worth $36,285,000 after purchasing an additional 153,617 shares in the last quarter.

OUTFRONT Media Price Performance

Shares of OUT traded down $0.30 during midday trading on Friday, hitting $17.23. The company's stock had a trading volume of 1,770,081 shares, compared to its average volume of 1,194,303. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $19.50. The company's fifty day simple moving average is $16.85 and its two-hundred day simple moving average is $16.76. 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 stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). OUTFRONT Media had a net margin of 14.60% and a return on equity of 42.24%. The firm had revenue of $390.70 million for the quarter, compared to analyst estimates of $396.17 million. As a group, equities analysts expect that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.20 annualized dividend and a dividend yield of 7.0%. OUTFRONT Media's dividend payout ratio (DPR) is 78.95%.

Insider Buying and Selling at OUTFRONT Media

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on OUT shares. Barrington Research reaffirmed an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, April 23rd. Morgan Stanley decreased their target price on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Citigroup restated a "buy" rating and issued a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Finally, Wall Street Zen cut OUTFRONT Media from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $18.60.

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.