Nordea Investment Management AB Takes $5.41 Million Position in OUTFRONT Media Inc. $OUT

Key Points

• Nordea Investment Management AB has acquired a new stake in OUTFRONT Media Inc., purchasing 333,995 shares valued at approximately $5.41 million in Q2.
• OUTFRONT Media reported earnings of $0.51 per share, exceeding analyst expectations, despite experiencing a 3.6% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.30 per share, translating to an annualized yield of 6.5%, though its dividend payout ratio is remarkably high at 206.90%.

Nordea Investment Management AB bought a new stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 333,995 shares of the financial services provider's stock, valued at approximately $5,414,000. Nordea Investment Management AB owned approximately 0.20% of OUTFRONT Media as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC increased its stake in shares of OUTFRONT Media by 8.5% in the first quarter. Signaturefd LLC now owns 9,203 shares of the financial services provider's stock valued at $149,000 after buying an additional 722 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in OUTFRONT Media by 1.8% in the second quarter. Maryland State Retirement & Pension System now owns 40,753 shares of the financial services provider's stock valued at $665,000 after acquiring an additional 740 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in OUTFRONT Media by 1.6% in the second quarter. Yousif Capital Management LLC now owns 51,633 shares of the financial services provider's stock valued at $843,000 after acquiring an additional 791 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in OUTFRONT Media by 0.4% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 212,014 shares of the financial services provider's stock valued at $3,422,000 after acquiring an additional 915 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in OUTFRONT Media by 12.4% in the first quarter. M&T Bank Corp now owns 12,665 shares of the financial services provider's stock valued at $204,000 after acquiring an additional 1,397 shares during the last quarter.

OUTFRONT Media Stock Up 1.1%

Shares of OUTFRONT Media stock opened at $18.43 on Wednesday. The business's 50 day simple moving average is $18.43 and its 200 day simple moving average is $16.99. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $19.80. The firm has a market cap of $3.08 billion, a PE ratio of 31.53, a P/E/G ratio of 1.07 and a beta of 1.84. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61.

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

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend was Friday, September 5th. OUTFRONT Media's dividend payout ratio (DPR) is currently 206.90%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OUT. Wall Street Zen upgraded OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley increased their target price 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a research note on Tuesday, September 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Insider Buying and Selling

In related news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total value 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 trade represents a 48.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Emilio Bonanni sold 4,126 shares of OUTFRONT Media stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the sale, the executive vice president directly owned 4,170 shares in the company, valued at approximately $80,814.60. This represents a 49.73% decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

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.

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