OUTFRONT Media Inc. $OUT Shares Bought by Select Equity Group L.P.

Select Equity Group L.P. grew its holdings in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 574.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 486,506 shares of the financial services provider's stock after buying an additional 414,345 shares during the period. Select Equity Group L.P. owned approximately 0.29% of OUTFRONT Media worth $7,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in OUTFRONT Media during the 1st quarter valued at about $14,177,000. Boothbay Fund Management LLC bought a new stake in shares of OUTFRONT Media in the 1st quarter valued at about $11,388,000. Invesco Ltd. raised its holdings in shares of OUTFRONT Media by 7.6% in the 1st quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider's stock valued at $126,476,000 after purchasing an additional 555,568 shares in the last quarter. Polar Asset Management Partners Inc. raised its holdings in shares of OUTFRONT Media by 247.7% in the 4th quarter. Polar Asset Management Partners Inc. now owns 677,930 shares of the financial services provider's stock valued at $12,026,000 after purchasing an additional 482,930 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of OUTFRONT Media in the 1st quarter valued at about $7,086,000.

OUTFRONT Media Stock Performance

NYSE OUT traded up $0.21 during mid-day trading on Friday, reaching $18.94. 1,272,121 shares of the stock were exchanged, compared to its average volume of 1,533,643. The business's 50 day moving average is $18.14 and its 200-day moving average is $16.73. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $19.80. The company has a market capitalization of $3.17 billion, a P/E ratio of 32.40, a P/E/G ratio of 1.10 and a beta of 1.87. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The firm had revenue of $460.20 million for the quarter, compared to the consensus estimate of $463.16 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a yield of 6.3%. OUTFRONT Media's dividend payout ratio is 206.90%.

Wall Street Analyst Weigh In

OUT has been the subject of several recent research reports. Citigroup restated a "buy" rating and issued a $19.00 price target (up previously from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. JPMorgan Chase & Co. reduced their price objective on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Morgan Stanley boosted their price objective on shares of OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, OUTFRONT Media has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Insiders Place Their Bets

In other OUTFRONT Media news, EVP Richard H. Sauer sold 20,109 shares of the company's 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 completion of the transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total transaction of $79,961.88. Following the transaction, the executive vice president owned 4,170 shares of the company's stock, valued at $80,814.60. This represents a 49.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,424,235 shares of company stock worth $152,103,293. Company insiders own 0.47% of the company's stock.

About OUTFRONT Media

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.