Peregrine Capital Management LLC Trims Position in OUTFRONT Media Inc. (NYSE:OUT)

Peregrine Capital Management LLC reduced its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,178 shares of the financial services provider's stock after selling 63,440 shares during the period. Peregrine Capital Management LLC owned 0.19% of OUTFRONT Media worth $5,184,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new stake in OUTFRONT Media during the 4th quarter valued at about $47,000. Sterling Capital Management LLC raised its position 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. Smartleaf Asset Management LLC raised its holdings in OUTFRONT Media by 155.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,198 shares of the financial services provider's stock valued at $73,000 after buying an additional 2,555 shares during the period. Lazard Asset Management LLC acquired a new position in shares of OUTFRONT Media in the 4th quarter worth approximately $113,000. Finally, Commonwealth Equity Services LLC acquired a new position in OUTFRONT Media during the fourth quarter worth $192,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OUT. Morgan Stanley lowered 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 note on Thursday, May 1st. Citigroup reiterated 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. Barrington Research reiterated an "outperform" rating and set a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. Wall Street Zen downgraded OUTFRONT Media from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their price target on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.23.

Insider Activity

In other news, EVP Richard H. Sauer sold 29,891 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total value of $471,978.89. Following the sale, the executive vice president directly owned 90,945 shares in the company, valued at $1,436,021.55. This represents a 24.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Price Performance

Shares of OUTFRONT Media stock traded up $0.01 during trading on Friday, reaching $17.15. The company's stock had a trading volume of 664,893 shares, compared to its average volume of 1,662,545. The business has a 50 day moving average price of $16.10 and a 200-day moving average price of $16.83. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $19.98. The company has a market capitalization of $2.87 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.04 and a beta of 1.87. 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 (NYSE:OUT - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $390.70 million for the quarter, compared to analyst estimates of $396.17 million. OUTFRONT Media had a return on equity of 42.24% and a net margin of 14.60%. As a group, sell-side analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders 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 yield of 7.00%. The ex-dividend date was Friday, June 6th. OUTFRONT Media's payout ratio is currently 78.95%.

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.