Kestra Private Wealth Services LLC Acquires Shares of 26,182 OUTFRONT Media Inc. (NYSE:OUT)

Key Points

• Kestra Private Wealth Services LLC has acquired 26,182 shares of OUTFRONT Media Inc., valued at approximately $423,000, during the first quarter.
• OUTFRONT Media reported a net margin of 14.60% and earnings per share of $0.14 for the latest quarter, missing the consensus estimate by $0.01.
• The company recently declared a quarterly dividend of $0.30, translating to an annualized dividend of $1.20 and a dividend yield of 6.65%.

Kestra Private Wealth Services LLC purchased a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,182 shares of the financial services provider's stock, valued at approximately $423,000.

A number of other institutional investors have also recently made changes to their positions in OUT. Principal Financial Group Inc. raised its stake in shares of OUTFRONT Media by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider's stock valued at $11,093,000 after purchasing an additional 16,470 shares during the period. GAMMA Investing LLC boosted its holdings in OUTFRONT Media by 1,484.2% during the 1st quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider's stock valued at $971,000 after acquiring an additional 56,342 shares during the period. SG Americas Securities LLC boosted its holdings in OUTFRONT Media by 429.8% during the 1st quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider's stock valued at $529,000 after acquiring an additional 26,577 shares during the period. Pacific Heights Asset Management LLC boosted its holdings in OUTFRONT Media by 122.2% during the 1st quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider's stock valued at $8,070,000 after acquiring an additional 275,000 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in OUTFRONT Media in the 1st quarter worth approximately $929,000.

OUTFRONT Media Trading Up 0.9%

Shares of OUT stock opened at $18.06 on Friday. The stock's 50-day moving average price is $16.69 and its 200-day moving average price is $16.76. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.37. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $19.50. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.09 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share (EPS) 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 business had revenue of $390.70 million for the quarter, compared to analysts' expectations of $396.17 million. Equities research analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were issued a $0.30 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.65%. OUTFRONT Media's payout ratio is 78.95%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OUT shares. Morgan Stanley decreased their target price on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Barrington Research reissued an "outperform" rating and issued a $21.00 target price on shares of OUTFRONT Media in a report on Wednesday, April 23rd. 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. JPMorgan Chase & Co. dropped their price target on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Finally, Wall Street Zen downgraded OUTFRONT Media from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued 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 Activity

In related news, EVP Richard H. Sauer sold 20,109 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $15.88, for a total value of $319,330.92. Following the completion of the sale, the executive vice president owned 70,836 shares in the company, valued at approximately $1,124,875.68. The trade was a 22.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

About OUTFRONT Media

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.