Moody National Bank Trust Division Buys New Holdings in OUTFRONT Media Inc. $OUT

Key Points

• Moody National Bank Trust Division acquired a new position in OUTFRONT Media Inc., purchasing 18,061 shares valued at approximately $295,000 during the second quarter.
• OUTFRONT Media recently announced a quarterly dividend of $0.30 per share, with a 6.4% yield, and a payout ratio of 206.90%.
• Despite strong quarterly earnings that exceeded estimates, the company's revenue decreased by 3.6% year-over-year, contributing to a stock price decline of 0.6%.

Moody National Bank Trust Division acquired a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,061 shares of the financial services provider's stock, valued at approximately $295,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SVB Wealth LLC purchased a new position in shares of OUTFRONT Media in the first quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of OUTFRONT Media by 158.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider's stock worth $54,000 after acquiring an additional 2,041 shares during the period. Rossby Financial LCC acquired a new position in OUTFRONT Media during the 1st quarter valued at about $74,000. Lazard Asset Management LLC acquired a new position in OUTFRONT Media during the 4th quarter valued at about $113,000. Finally, IFP Advisors Inc grew its stake in shares of OUTFRONT Media by 97.6% in the 1st quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider's stock worth $113,000 after purchasing an additional 3,313 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on OUT shares. Wall Street Zen upgraded shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup restated a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. Morgan Stanley increased their price target on OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Finally, Barrington Research restated an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, OUTFRONT Media presently has an average rating of "Moderate Buy" and an average price target of $19.00.

Insider Activity

In related news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the completion of the sale, the insider owned 8,913,813 shares of the company's stock, valued at $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total transaction of $79,961.88. Following the transaction, the executive vice president owned 4,170 shares of the company's stock, valued at approximately $80,814.60. The trade was a 49.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company's stock.

OUTFRONT Media Stock Down 0.1%

OUT stock traded down $0.02 during trading on Tuesday, reaching $18.79. The stock had a trading volume of 330,139 shares, compared to its average volume of 1,587,447. OUTFRONT Media Inc. has a 1-year low of $12.95 and a 1-year high of $19.80. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60. The company has a market capitalization of $3.14 billion, a P/E ratio of 32.17, a PEG ratio of 1.09 and a beta of 1.87. The firm has a fifty day moving average price of $18.31 and a 200 day moving average price of $16.73.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $460.20 million during the quarter, compared to analysts' expectations of $463.16 million. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The business's revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. On average, equities analysts anticipate that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, September 5th. OUTFRONT Media's dividend payout ratio (DPR) is currently 206.90%.

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.