LSV Asset Management Sells 139,087 Shares of OUTFRONT Media Inc. $OUT

Key Points

• LSV Asset Management cut its stake in OUTFRONT Media by 6.4% in the fourth quarter, selling 139,087 shares and leaving it with 2,045,291 shares valued at about $49.3 million.
• OUTFRONT Media reported strong quarterly results, posting EPS of $0.34 versus the $0.28 consensus and revenue growth of 10% year over year, though revenue slightly missed estimates.
• The company also declared a quarterly dividend of $0.30 per share, implying a 3.6% annualized yield, while analysts remain generally positive with a consensus rating of Moderate Buy.

LSV Asset Management reduced its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,045,291 shares of the financial services provider's stock after selling 139,087 shares during the quarter. LSV Asset Management owned 1.22% of OUTFRONT Media worth $49,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in OUTFRONT Media by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider's stock valued at $545,983,000 after purchasing an additional 1,131,954 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in OUTFRONT Media by 9.9% during 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 purchasing an additional 448,993 shares in the last quarter. Wellington Management Group LLP increased its stake in OUTFRONT Media by 15.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,973,868 shares of the financial services provider's stock valued at $72,801,000 after purchasing an additional 527,258 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in OUTFRONT Media by 10.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,888,621 shares of the financial services provider's stock valued at $47,142,000 after purchasing an additional 275,023 shares in the last quarter. Finally, GRS Advisors LLC increased its stake in OUTFRONT Media by 12.8% during the 3rd quarter. GRS Advisors LLC now owns 2,468,232 shares of the financial services provider's stock valued at $45,218,000 after purchasing an additional 279,326 shares in the last quarter.

OUTFRONT Media Stock Performance

Shares of NYSE OUT opened at $33.55 on Monday. The firm's 50-day moving average price is $29.40 and its 200-day moving average price is $26.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90. The company has a market cap of $5.91 billion, a PE ratio of 31.95, a PEG ratio of 1.61 and a beta of 1.50. OUTFRONT Media Inc. has a 52-week low of $15.45 and a 52-week high of $34.96.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The firm had revenue of $429.60 million for the quarter, compared to the consensus estimate of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The business's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. As a group, analysts anticipate that OUTFRONT Media Inc. will post 2.08 EPS for the current year.

OUTFRONT Media Announces Dividend

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 issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, June 5th. OUTFRONT Media's dividend payout ratio (DPR) is presently 114.29%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OUT shares. Morgan Stanley set a $37.00 price objective on shares of OUTFRONT Media in a research note on Friday, May 8th. Wall Street Zen lowered shares of OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 17th. TD Cowen restated a "buy" rating and set a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Barrington Research set a $38.00 price objective on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company raised their price target on shares of OUTFRONT Media from $27.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.71.

Insider Transactions at OUTFRONT Media

In related news, EVP Matthew Siegel sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total value of $1,289,500.00. Following the transaction, the executive vice president owned 289,925 shares of the company's stock, valued at approximately $7,477,165.75. This trade represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 firm's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $26.93, for a total transaction of $303,528.03. Following the completion of the transaction, the director directly owned 36,244 shares in the company, valued at approximately $976,050.92. The trade was a 23.72% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.47% of the company's stock.

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.