Intech Investment Management LLC Has $6.50 Million Position in OUTFRONT Media Inc. $OUT

Key Points

• Intech Investment Management LLC boosted its OUTFRONT Media stake by 116.6% in the fourth quarter, ending with 269,557 shares valued at about $6.5 million.
• OUTFRONT Media reported strong quarterly results, posting EPS of $0.34 versus expectations of $0.28, while revenue rose 10% year over year to $429.6 million.
• The company also declared a quarterly dividend of $0.30 per share and received mostly positive analyst coverage, with six Buy ratings and an average target price of $30.71.

Intech Investment Management LLC raised its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 116.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 269,557 shares of the financial services provider's stock after purchasing an additional 145,115 shares during the quarter. Intech Investment Management LLC owned 0.16% of OUTFRONT Media worth $6,496,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of 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 worth $545,983,000 after acquiring an additional 1,131,954 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of 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 worth $80,393,000 after acquiring an additional 448,993 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of OUTFRONT Media by 15.3% in the third quarter. Wellington Management Group LLP now owns 3,973,868 shares of the financial services provider's stock worth $72,801,000 after acquiring an additional 527,258 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of OUTFRONT Media by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,738,362 shares of the financial services provider's stock worth $90,106,000 after acquiring an additional 127,117 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of OUTFRONT Media by 10.5% in the second quarter. Qube Research & Technologies Ltd now owns 2,888,621 shares of the financial services provider's stock worth $47,142,000 after acquiring an additional 275,023 shares during the last quarter.

Insider Activity at OUTFRONT Media

In other news, EVP Matthew Siegel sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the sale, the executive vice president directly owned 289,925 shares of the company's stock, valued at $7,477,165.75. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $26.93, for a total transaction of $303,528.03. Following the sale, the director directly owned 36,244 shares in the company, valued at $976,050.92. This trade represents a 23.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Stock Performance

NYSE OUT opened at $32.22 on Friday. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.53 and a beta of 1.50. The company has a 50 day moving average of $29.99 and a 200-day moving average of $26.59. 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 Inc. has a 1-year low of $15.45 and a 1-year high of $34.96.

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, beating 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 business had revenue of $429.60 million for the quarter, compared to analysts' expectations of $431.44 million. During the same period in the prior year, the firm earned $0.14 earnings per share. OUTFRONT Media's revenue was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that OUTFRONT Media Inc. will post 2.11 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, June 5th. OUTFRONT Media's dividend payout ratio is 114.29%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OUT. Wells Fargo & Company upped their price objective on shares of OUTFRONT Media from $27.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, February 27th. Barrington Research set a $38.00 price objective on shares of OUTFRONT Media in a report on Tuesday, May 12th. Zacks Research cut shares of OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. TD Cowen reiterated a "buy" rating and issued a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of OUTFRONT Media from a "buy" rating to a "strong-buy" rating in a report on Saturday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, OUTFRONT Media currently has an average rating of "Moderate Buy" and an average target price of $30.71.

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.