OUTFRONT Media Inc. (NYSE:OUT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,878,718 shares of the financial services provider's stock after selling 122,684 shares during the period. Bank of New York Mellon Corp owned about 1.12% of OUTFRONT Media worth $30,323,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Loomis Sayles & Co. L P purchased a new stake in OUTFRONT Media in the 4th quarter valued at about $47,000. Sterling Capital Management LLC grew its holdings in OUTFRONT Media by 672.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 2,522 shares during the period. Rossby Financial LCC purchased a new position in OUTFRONT Media during the first quarter worth approximately $74,000. Lazard Asset Management LLC acquired a new position in shares of OUTFRONT Media in the 4th quarter valued at $113,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of OUTFRONT Media during the 4th quarter valued at $192,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OUT shares. Wall Street Zen cut OUTFRONT Media from a "hold" rating to a "sell" rating in a report on Monday, May 12th. JPMorgan Chase & Co. cut their price objective on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Barrington Research reiterated an "outperform" rating and set a $21.00 target price on shares of OUTFRONT Media in a report on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating and set a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. Finally, Morgan Stanley dropped their price objective on shares of 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, OUTFRONT Media has an average rating of "Hold" and an average price target of $18.60.

OUTFRONT Media Stock Up 1.0%

Shares of NYSE OUT traded up $0.19 during trading on Thursday, reaching $18.31. 682,031 shares of the stock were exchanged, compared to its average volume of 1,661,765. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.07 and a beta of 1.87. The business's 50-day moving average price is $16.41 and its 200 day moving average price is $16.78. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.37. OUTFRONT Media Inc. has a twelve month low of $12.95 and a twelve month high of $19.98.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). OUTFRONT Media had a net margin of 14.60% and a return on equity of 42.24%. The firm had revenue of $390.70 million during the quarter, compared to analysts' expectations of $396.17 million. As a group, equities analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, June 6th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend was Friday, June 6th. OUTFRONT Media's payout ratio is currently 78.95%.

Insider Activity

In other OUTFRONT Media news, EVP Richard H. Sauer sold 20,109 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $15.88, for a total transaction of $319,330.92. Following the transaction, the executive vice president directly owned 70,836 shares in the company, valued at $1,124,875.68. This represents a 22.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.47% of the company's stock.

OUTFRONT Media Company 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.