OUTFRONT Media Inc. $OUT Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in OUTFRONT Media by 3.5% in the fourth quarter, bringing its holdings to 3.74 million shares worth about $90.1 million.
• OUTFRONT Media reported better-than-expected quarterly earnings of $0.34 per share, topping estimates, while revenue rose 10% year over year to $429.6 million.
• The company declared a quarterly dividend of $0.30 per share, or $1.20 annualized, for a yield of 3.9%, though the payout ratio is high at 114.29%.

Geode Capital Management LLC grew its holdings in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,738,362 shares of the financial services provider's stock after acquiring an additional 127,117 shares during the quarter. Geode Capital Management LLC owned 2.24% of OUTFRONT Media worth $90,106,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GRS Advisors LLC boosted its holdings in OUTFRONT Media by 12.8% in the third quarter. GRS Advisors LLC now owns 2,468,232 shares of the financial services provider's stock worth $45,218,000 after acquiring an additional 279,326 shares in the last quarter. Versor Investments LP acquired a new stake in OUTFRONT Media in the third quarter worth about $1,259,000. Barnett & Company Inc. acquired a new stake in OUTFRONT Media in the third quarter worth about $1,519,000. Polar Asset Management Partners Inc. acquired a new stake in OUTFRONT Media in the third quarter worth about $5,622,000. Finally, BTC Capital Management Inc. acquired a new stake in OUTFRONT Media in the fourth quarter worth about $3,625,000.

OUTFRONT Media Stock Down 0.1%

Shares of OUT stock opened at $31.16 on Monday. The stock has a 50 day moving average of $30.43 and a 200 day moving average of $26.99. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. The stock has a market cap of $5.49 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.47 and a beta of 1.49. OUTFRONT Media Inc. has a twelve month low of $15.45 and a twelve month high of $34.96.

OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. The firm had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The business's revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. As a group, sell-side analysts expect that OUTFRONT Media Inc. will post 2.12 EPS for the current year.

OUTFRONT Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $0.30 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a yield of 3.9%. OUTFRONT Media's dividend payout ratio is presently 114.29%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen raised OUTFRONT Media from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 30th. Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a research note on Friday, May 8th. Barrington Research set a $38.00 price objective on OUTFRONT Media in a research note on Tuesday, May 12th. Wells Fargo & Company raised their price objective on OUTFRONT Media from $27.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Finally, Zacks Research cut OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, OUTFRONT Media currently has an average rating of "Moderate Buy" and an average target price of $30.71.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $26.93, for a total value of $303,528.03. Following the completion of the sale, the director owned 36,244 shares in the company, valued at approximately $976,050.92. This represents a 23.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew Siegel sold 50,000 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the completion of the sale, the executive vice president owned 289,925 shares of the company's stock, valued at approximately $7,477,165.75. The trade was a 14.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.47% of the stock is currently owned by corporate insiders.

OUTFRONT Media Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.

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