OUTFRONT Media Inc. $OUT Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC reduced its OUTFRONT Media stake by 91.5% in the first quarter, selling 95,316 shares and retaining 8,888 shares valued at approximately $236,000.
• OUTFRONT Media raised its quarterly dividend from $0.30 to $0.33 per share, equivalent to a $1.32 annualized dividend and a 4.4% yield.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating; the stock has an overall “Moderate Buy” consensus and an average price target of $34.00.

Empowered Funds LLC cut its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 91.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,888 shares of the financial services provider's stock after selling 95,316 shares during the period. Empowered Funds LLC's holdings in OUTFRONT Media were worth $236,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Advisory Services Network LLC purchased a new position in OUTFRONT Media in the 3rd quarter worth about $29,000. Farther Finance Advisors LLC lifted its stake in OUTFRONT Media by 157.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider's stock valued at $56,000 after buying an additional 1,431 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in OUTFRONT Media during the fourth quarter valued at about $71,000. State of Wyoming boosted its holdings in shares of OUTFRONT Media by 155.5% in the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider's stock worth $130,000 after buying an additional 4,853 shares during the period. Finally, North Star Investment Management Corp. purchased a new position in shares of OUTFRONT Media in the first quarter worth approximately $222,000.

OUTFRONT Media Price Performance

OUT opened at $29.82 on Friday. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.43 and a beta of 1.49. OUTFRONT Media Inc. has a 1 year low of $16.97 and a 1 year high of $34.96. 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 stock has a fifty day moving average price of $31.93 and a 200 day moving average price of $29.79.

OUTFRONT Media Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from OUTFRONT Media's previous quarterly dividend of $0.30. OUTFRONT Media's dividend payout ratio (DPR) is presently 86.33%.

Insider Activity at OUTFRONT Media

In other OUTFRONT Media news, EVP James Michael Norton acquired 4,130 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $30.81 per share, with a total value of $127,245.30. Following the completion of the transaction, the executive vice president owned 4,130 shares in the company, valued at $127,245.30. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total transaction of $160,400.00. Following the completion of the sale, the executive vice president owned 56,947 shares of the company's stock, valued at $1,826,859.76. This trade represents a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 20,000 shares of company stock valued at $629,600. 0.45% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on OUT shares. JPMorgan Chase & Co. restated an "overweight" rating and issued a $38.00 price target on shares of OUTFRONT Media in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 26th. Barrington Research set a $38.00 target price on shares of OUTFRONT Media in a research note on Tuesday, May 12th. TD Cowen restated a "buy" rating and issued a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a report on Thursday, August 6th. Finally, Wells Fargo & Company raised 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. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.00.

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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