OUTFRONT Media Inc. (NYSE:OUT) Stake Cut by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 21.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,157 shares of the financial services provider's stock after selling 33,002 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of OUTFRONT Media worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in OUT. FMR LLC grew its position in shares of OUTFRONT Media by 132.5% during the fourth quarter. FMR LLC now owns 15,604,202 shares of the financial services provider's stock worth $276,819,000 after buying an additional 8,892,411 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of OUTFRONT Media by 87.8% during the fourth quarter. Cohen & Steers Inc. now owns 5,243,211 shares of the financial services provider's stock worth $93,015,000 after buying an additional 2,450,632 shares in the last quarter. Benchstone Capital Management LP acquired a new stake in shares of OUTFRONT Media during the fourth quarter worth approximately $29,038,000. LSV Asset Management increased its holdings in shares of OUTFRONT Media by 6,623.5% in the 4th quarter. LSV Asset Management now owns 1,595,362 shares of the financial services provider's stock valued at $28,302,000 after acquiring an additional 1,571,634 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of OUTFRONT Media by 145.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,472,416 shares of the financial services provider's stock valued at $26,121,000 after acquiring an additional 873,484 shares during the last quarter.

OUTFRONT Media Stock Performance

Shares of NYSE:OUT traded up $0.16 on Friday, hitting $18.06. The company's stock had a trading volume of 812,319 shares, compared to its average volume of 1,585,852. The stock's 50-day moving average is $16.65 and its two-hundred day moving average is $16.77. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.50. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 1.09 and a beta of 1.87. The company has a debt-to-equity ratio of 4.37, 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 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). 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 for the quarter, compared to the consensus estimate of $396.17 million. On average, equities research analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.20 annualized dividend and a yield of 6.65%. OUTFRONT Media's dividend payout ratio is currently 78.95%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OUT. Barrington Research reiterated an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a report 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. Citigroup restated a "buy" rating and set a $19.00 price objective (up from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Morgan Stanley lowered their price objective on 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. Finally, JPMorgan Chase & Co. lowered their price objective on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, OUTFRONT Media presently has a consensus rating of "Hold" and a consensus target price of $18.60.

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.