Select Equity Group L.P. Has $7.85 Million Holdings in OUTFRONT Media Inc. $OUT

Select Equity Group L.P. boosted its position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 574.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,506 shares of the financial services provider's stock after purchasing an additional 414,345 shares during the period. Select Equity Group L.P. owned 0.29% of OUTFRONT Media worth $7,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of OUT. Bank of America Corp DE increased its holdings in OUTFRONT Media by 28.2% in the 4th quarter. Bank of America Corp DE now owns 346,544 shares of the financial services provider's stock worth $6,148,000 after purchasing an additional 76,306 shares in the last quarter. Cetera Investment Advisers increased its holdings in OUTFRONT Media by 28.4% in the 4th quarter. Cetera Investment Advisers now owns 19,046 shares of the financial services provider's stock worth $338,000 after purchasing an additional 4,208 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in OUTFRONT Media by 4.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 63,479 shares of the financial services provider's stock worth $1,126,000 after purchasing an additional 2,495 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in OUTFRONT Media in the 4th quarter worth about $608,000. Finally, Lazard Asset Management LLC bought a new stake in shares of OUTFRONT Media in the 4th quarter valued at about $113,000.

OUTFRONT Media Trading Up 1.1%

NYSE OUT traded up $0.21 during trading hours on Friday, hitting $18.94. 1,272,121 shares of the company's stock were exchanged, compared to its average volume of 1,533,643. The stock has a 50-day simple moving average of $18.14 and a 200 day simple moving average of $16.72. OUTFRONT Media Inc. has a 1-year low of $12.95 and a 1-year high of $19.80. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 1.10 and a beta of 1.87. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60.

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

OUTFRONT Media Announces Dividend

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

Insider Buying and Selling

In related news, EVP Richard H. Sauer sold 20,109 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $15.88, for a total transaction of $319,330.92. Following the completion of the sale, the executive vice president owned 70,836 shares of the company's stock, valued at $1,124,875.68. This trade represents a 22.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total value of $151,704,000.00. Following the sale, the insider directly owned 8,913,813 shares of the company's stock, valued at $160,983,462.78. This represents a 48.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,424,235 shares of company stock valued at $152,103,293 over the last 90 days. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

OUT has been the subject of several recent research reports. Wells Fargo & Company reissued an "overweight" rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. Barrington Research reissued an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, August 6th. Citigroup reissued a "buy" rating and issued a $19.00 price target (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Wall Street Zen raised OUTFRONT Media from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley increased their price target on OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, OUTFRONT Media currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

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.