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Bank of New York Mellon Corp Sells 122,684 Shares of OUTFRONT Media Inc. (NYSE:OUT)

OUTFRONT Media logo with Finance background

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

Several other hedge funds have also made changes to their positions in OUT. Loomis Sayles & Co. L P acquired a new stake in shares of OUTFRONT Media in the fourth quarter worth about $47,000. Sterling Capital Management LLC grew its position in OUTFRONT Media by 672.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider's stock worth $51,000 after acquiring an additional 2,522 shares during the last quarter. Rossby Financial LCC acquired a new position in OUTFRONT Media during the 1st quarter worth $74,000. Lazard Asset Management LLC acquired a new position in OUTFRONT Media during the 4th quarter worth $113,000. Finally, Commonwealth Equity Services LLC acquired a new position in OUTFRONT Media during the 4th quarter worth $192,000.

Insider Buying and Selling at OUTFRONT Media

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

Analyst Ratings Changes

OUT has been the subject of several analyst reports. Citigroup restated a "buy" rating and issued a $19.00 price objective (up previously from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Wall Street Zen downgraded shares of OUTFRONT Media from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Barrington Research reaffirmed an "outperform" rating and issued a $21.00 target price on shares of OUTFRONT Media in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company lowered their target price on OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, OUTFRONT Media presently has an average rating of "Hold" and a consensus price target of $18.60.

Get Our Latest Report on OUT

OUTFRONT Media Stock Performance

Shares of OUTFRONT Media stock traded down $0.33 on Friday, reaching $17.88. 1,400,567 shares of the company traded hands, compared to its average volume of 1,667,375. OUTFRONT Media Inc. has a 52 week low of $12.95 and a 52 week high of $19.98. The company has a 50 day moving average of $16.53 and a 200 day moving average of $16.78. The firm has a market capitalization of $2.99 billion, a PE ratio of 11.77, a PEG ratio of 1.11 and a beta of 1.87. The company has a debt-to-equity ratio of 4.37, a current ratio of 0.61 and a quick ratio of 0.61.

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

OUTFRONT Media Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, June 6th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date of this dividend was Friday, June 6th. OUTFRONT Media's payout ratio is 78.95%.

About OUTFRONT Media

(Free Report)

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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Institutional Ownership by Quarter for OUTFRONT Media (NYSE:OUT)

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