Moody National Bank Trust Division Takes $295,000 Position 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 purchased a new position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 18,061 shares of the financial services provider's stock, valued at approximately $295,000.

Several other large investors also recently made changes to their positions in OUT. Principal Financial Group Inc. lifted its holdings in shares of OUTFRONT Media by 2.5% in the first 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 in the last quarter. GAMMA Investing LLC grew 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 buying an additional 56,342 shares in the last quarter. SG Americas Securities LLC increased its position in shares of OUTFRONT Media by 429.8% during the first quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider's stock valued at $529,000 after buying an additional 26,577 shares during the period. Pacific Heights Asset Management LLC lifted its holdings in shares of OUTFRONT Media by 122.2% in the first quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider's stock worth $8,070,000 after buying an additional 275,000 shares in the last quarter. Finally, New Age Alpha Advisors LLC boosted its position in shares of OUTFRONT Media by 162.1% in the first quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider's stock valued at $1,996,000 after acquiring an additional 76,486 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OUT shares. Citigroup reiterated a "buy" rating and issued a $19.00 price objective (up previously from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. Wall Street Zen upgraded shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley lifted their price target on OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Barrington Research reaffirmed an "outperform" rating and issued a $21.00 target price on shares of OUTFRONT Media in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Insider Transactions at OUTFRONT Media

In related news, 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 completion of the transaction, the executive vice president owned 4,170 shares of the company's stock, valued at $80,814.60. This trade represents a 49.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the firm'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 sale, the insider owned 8,913,813 shares of the company's stock, valued at approximately $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Trading Up 0.9%

NYSE:OUT traded up $0.17 during mid-day trading on Monday, reaching $18.82. 1,582,308 shares of the company's stock traded hands, compared to its average volume of 1,592,345. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $19.80. The company has a debt-to-equity ratio of 4.60, a current ratio of 0.61 and a quick ratio of 0.61. The company has a 50 day moving average price of $18.30 and a 200-day moving average price of $16.73. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 1.09 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its earnings results 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 firm had revenue of $460.20 million for the quarter, compared to analysts' expectations of $463.16 million. OUTFRONT Media had a return on equity of 18.07% and a net margin of 5.99%.The business's revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, sell-side analysts predict that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

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