OUTFRONT Media Inc. $OUT Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP cut its stake in OUTFRONT Media by 56.3% in Q3, selling 54,232 shares and leaving 42,077 shares valued at about $771,000.
• OUTFRONT missed earnings—reported EPS of $0.55 vs. $0.71 expected—while revenue came in slightly ahead at $513.3M, and the company announced a $0.30 quarterly dividend (annualized $1.20, ~4.2% yield; ex-dividend March 6) with a high payout ratio of 150%.
• Wall Street sentiment is a consensus "Moderate Buy" with a $27.86 target; six analysts rate the stock Buy and one rates it Hold, and some firms (e.g., TD Cowen) have raised targets as high as $32.00.

Quantbot Technologies LP decreased its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 56.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,077 shares of the financial services provider's stock after selling 54,232 shares during the period. Quantbot Technologies LP's holdings in OUTFRONT Media were worth $771,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in OUTFRONT Media by 7.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 108,817 shares of the financial services provider's stock valued at $1,994,000 after buying an additional 7,480 shares during the last quarter. Intech Investment Management LLC lifted its holdings in OUTFRONT Media by 60.6% during the 3rd quarter. Intech Investment Management LLC now owns 124,442 shares of the financial services provider's stock worth $2,280,000 after buying an additional 46,946 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of OUTFRONT Media in the 3rd quarter worth approximately $813,000. Barnett & Company Inc. acquired a new position in shares of OUTFRONT Media in the 3rd quarter worth approximately $1,519,000. Finally, Rossby Financial LCC increased its holdings in shares of OUTFRONT Media by 14.2% in the 3rd quarter. Rossby Financial LCC now owns 7,942 shares of the financial services provider's stock valued at $144,000 after acquiring an additional 989 shares during the last quarter.

OUTFRONT Media Trading Down 2.0%

Shares of NYSE OUT opened at $28.62 on Friday. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 35.78, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $29.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.63. The stock's 50 day simple moving average is $25.56 and its 200 day simple moving average is $21.99.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.16). OUTFRONT Media had a net margin of 8.03% and a return on equity of 24.86%. The company had revenue of $513.30 million for the quarter, compared to analyst estimates of $511.61 million. Equities research analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, March 6th. OUTFRONT Media's payout ratio is presently 150.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OUT. Zacks Research lowered OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. raised shares of OUTFRONT Media from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $19.00 to $25.00 in a report on Wednesday, November 12th. New Street Research set a $24.00 target price on shares of OUTFRONT Media in a research note on Tuesday, November 11th. TD Cowen increased their target price on shares of OUTFRONT Media from $24.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Finally, Citigroup restated a "buy" rating and issued a $23.00 price target (up from $20.00) on shares of OUTFRONT Media in a research report on Wednesday, November 12th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.86.

Insider Buying and Selling

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the company's stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $24.49, for a total value of $276,026.79. Following the completion of the transaction, the director owned 47,515 shares in the company, valued at approximately $1,163,642.35. This represents a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company's stock.

OUTFRONT Media Company 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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