Hsbc Holdings PLC Purchases Shares of 170,438 OUTFRONT Media Inc. $OUT

Key Points

• HSBC Holdings PLC disclosed a new fourth-quarter position in OUTFRONT Media, buying 170,438 shares valued at about $4.1 million and representing roughly 0.10% of the company.
• Insider activity was mixed: EVP Richard H. Sauer sold 5,000 shares, while EVP James Michael Norton bought 4,130 shares. Insiders sold a total of 20,000 shares over the last 90 days.
• OUTFRONT Media beat earnings expectations in its latest quarter, reporting $0.34 EPS versus the $0.28 estimate, while revenue rose 10% year over year to $429.6 million. The company also paid a quarterly dividend of $0.30 per share, for a 3.5% yield.

Hsbc Holdings PLC purchased a new position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 170,438 shares of the financial services provider's stock, valued at approximately $4,109,000. Hsbc Holdings PLC owned about 0.10% of OUTFRONT Media at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC lifted its stake in OUTFRONT Media by 9.3% during the first quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider's stock worth $2,105,000 after purchasing an additional 11,073 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in OUTFRONT Media by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider's stock valued at $1,388,000 after purchasing an additional 1,739 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in OUTFRONT Media by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock valued at $80,393,000 after purchasing an additional 448,993 shares during the last quarter. Empowered Funds LLC raised its holdings in OUTFRONT Media by 12.4% during the first quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider's stock worth $345,000 after purchasing an additional 2,357 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in OUTFRONT Media by 45.6% during the first quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider's stock worth $595,000 after purchasing an additional 11,559 shares in the last quarter.

Insider Activity

In other OUTFRONT Media news, EVP Richard H. Sauer sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The stock was 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 of the company's stock, valued at $1,826,859.76. This represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Michael Norton bought 4,130 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the acquisition, the executive vice president owned 4,130 shares of the company's stock, valued at approximately $127,245.30. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 20,000 shares of company stock worth $629,600 in the last 90 days. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

OUT has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 20th. Morgan Stanley set a $37.00 price target on shares of OUTFRONT Media in a research note on Friday, May 8th. Barrington Research set a $38.00 price target on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Finally, TD Cowen restated a "buy" rating and issued a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.71.

OUTFRONT Media Price Performance

OUT stock opened at $33.81 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. The company has a market capitalization of $5.95 billion, a P/E ratio of 32.20, a PEG ratio of 1.57 and a beta of 1.48. The business has a 50 day simple moving average of $32.06 and a 200-day simple moving average of $28.45. OUTFRONT Media Inc. has a twelve month low of $16.64 and a twelve month high of $34.96.

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

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, June 5th. OUTFRONT Media's 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.

Want to see what other hedge funds are holding OUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OUTFRONT Media Inc. (NYSE:OUT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.