OUTFRONT Media Inc. $OUT Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in OUTFRONT Media Inc. by 2.9%, owning 463,351 shares worth approximately $7.5 million after selling 14,054 shares.
• OUTFRONT Media's performance included a reported EPS of $0.51 for the last quarter, surpassing expectations, but with a year-over-year revenue decline of 3.6%.
• The company declared a quarterly dividend of $0.30 per share, reflecting an annualized yield of 6.4%, with a payout ratio of 206.90%.

Russell Investments Group Ltd. cut its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 463,351 shares of the financial services provider's stock after selling 14,054 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.28% of OUTFRONT Media worth $7,478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OUT. Sterling Capital Management LLC grew its position in shares of OUTFRONT Media by 672.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,897 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 2,522 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of OUTFRONT Media in the first quarter valued at $74,000. Lazard Asset Management LLC bought a new stake in OUTFRONT Media in the fourth quarter worth about $113,000. IFP Advisors Inc grew its stake in shares of OUTFRONT Media by 97.6% during the first quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider's stock valued at $113,000 after buying an additional 3,313 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of OUTFRONT Media by 8.5% in the first quarter. Signaturefd LLC now owns 9,203 shares of the financial services provider's stock worth $149,000 after buying an additional 722 shares during the period.

OUTFRONT Media Stock Down 1.9%

Shares of OUT stock traded down $0.36 during trading hours on Monday, reaching $18.82. 1,789,006 shares of the company's stock were exchanged, compared to its average volume of 1,696,091. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $19.80. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60. The stock has a market cap of $3.15 billion, a PE ratio of 32.20, a PEG ratio of 1.14 and a beta of 1.89. The stock's fifty day moving average price is $17.47 and its two-hundred day moving average price is $16.71.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $463.16 million. During the same period in the prior year, the company earned $0.50 earnings per share. The company's revenue was down 3.6% on a year-over-year basis. Research analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Friday, September 5th. OUTFRONT Media's dividend payout ratio is 206.90%.

Analysts Set New Price Targets

Several brokerages have commented on OUT. Morgan Stanley upped their price objective on OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Wall Street Zen upgraded shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup reiterated a "buy" rating and set a $19.00 price objective (up previously from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Barrington Research reissued an "outperform" rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, OUTFRONT Media currently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Insider Buying and Selling at OUTFRONT Media

In related news, EVP Richard H. Sauer sold 29,891 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $471,978.89. Following the transaction, the executive vice president directly owned 90,945 shares in the company, valued at approximately $1,436,021.55. The trade was a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company's stock.

OUTFRONT Media Profile

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.