OUTFRONT Media Inc. $OUT Shares Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its OUTFRONT Media stake by 16.6% in the third quarter, purchasing 35,431 additional shares and bringing its holdings to 248,324 shares valued at approximately $6.9 million.
• Analysts maintain a generally positive view, with six Buy ratings and one Hold rating. OUT has a consensus “Moderate Buy” rating and an average price target of $34.00, compared with its reported market price of $31.97.
• OUTFRONT reported quarterly earnings of $0.68 per share, surpassing estimates of $0.38, while revenue rose 13.5% year over year to $522.5 million. The company also increased its quarterly dividend to $0.33, implying a 4.1% annualized yield.

Asset Management One Co. Ltd. boosted its position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,324 shares of the financial services provider's stock after buying an additional 35,431 shares during the period. Asset Management One Co. Ltd. owned approximately 0.14% of OUTFRONT Media worth $6,891,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in OUTFRONT Media by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,211,619 shares of the financial services provider's stock worth $58,603,000 after acquiring an additional 133,960 shares during the period. California State Teachers Retirement System grew its holdings in shares of OUTFRONT Media by 24.1% in the 1st quarter. California State Teachers Retirement System now owns 177,269 shares of the financial services provider's stock valued at $4,698,000 after buying an additional 34,403 shares during the period. First Trust Advisors LP grew its stake in OUTFRONT Media by 102.1% in the first quarter. First Trust Advisors LP now owns 342,195 shares of the financial services provider's stock valued at $9,068,000 after purchasing an additional 172,879 shares in the last quarter. Engineers Gate Manager LP bought a new position in OUTFRONT Media during the second quarter worth about $1,657,000. Finally, Corient Private Wealth LP boosted its stake in shares of OUTFRONT Media by 831.4% in the 2nd quarter. Corient Private Wealth LP now owns 131,416 shares of the financial services provider's stock valued at $4,305,000 after purchasing an additional 117,306 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on OUT. Wells Fargo & Company increased their target price on OUTFRONT Media from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. TD Cowen reaffirmed a "buy" rating and issued a $40.00 price target (up from $38.00) on shares of OUTFRONT Media in a report on Thursday, August 6th. Wall Street Zen cut OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 26th. JPMorgan Chase & Co. started coverage on OUTFRONT Media in a research note on Wednesday, July 22nd. They set an "overweight" rating and a $38.00 price target on the stock. Finally, Citigroup reissued a "buy" rating on shares of OUTFRONT Media in a research note on Tuesday, September 8th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

OUTFRONT Media Price Performance

OUT stock opened at $31.97 on Monday. OUTFRONT Media Inc. has a 12 month low of $17.00 and a 12 month high of $34.96. The firm has a market capitalization of $5.63 billion, a P/E ratio of 23.00 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50. The firm has a 50 day moving average of $29.50 and a 200-day moving average of $29.51.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.38 by $0.30. The business had revenue of $522.50 million for the quarter, compared to analysts' expectations of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The business's quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. As a group, sell-side analysts predict that OUTFRONT Media Inc. will post 2.18 earnings per share for the current fiscal year.

OUTFRONT Media Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.1%. This is a boost from OUTFRONT Media's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, September 4th. OUTFRONT Media's dividend payout ratio is 94.96%.

Insider Transactions at OUTFRONT Media

In other news, EVP Matthew Siegel sold 25,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $27.84, for a total value of $696,000.00. Following the completion of the transaction, the executive vice president owned 264,925 shares of the company's stock, valued at approximately $7,375,512. This represents a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Emilio Bonanni sold 3,385 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $29.82, for a total value of $100,940.70. Following the sale, the executive vice president owned 10,420 shares of the company's stock, valued at approximately $310,724.40. This represents a 24.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.45% of the stock is currently owned by company insiders.

OUTFRONT Media Company Profile

OUTFRONT Media Inc NYSE: OUT is an out-of-home media company that provides advertising services through a portfolio of billboard, transit and other outdoor advertising assets. The company helps advertisers reach consumers in high-traffic locations, including roads, urban centers, public transportation systems and other public spaces.

Its offerings include traditional printed billboards, digital billboards, transit displays and place-based media. OUTFRONT also provides related services such as media planning, creative support, audience analytics and technology-enabled advertising solutions, including digital and programmatic buying capabilities.

OUTFRONT primarily serves advertisers across the United States and Canada.

Want to see what other hedge funds are holding OUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OUTFRONT Media Inc. (NYSE:OUT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.