Rhumbline Advisers Trims Stake in OUTFRONT Media Inc. $OUT

Key Points

• Rhumbline Advisers reduced its stake in OUTFRONT Media by 3.8%, now holding 442,725 shares worth approximately $7.14 million, after selling 17,598 shares in the first quarter.
• OUTFRONT Media reported a quarterly EPS of $0.51, beating estimates by $0.03, although its revenue decreased by 3.6% year-over-year to $460.20 million.
• The firm has declared a quarterly dividend of $0.30 per share, which reflects a 6.4% yield, despite a high payout ratio of 206.90%.

Rhumbline Advisers decreased its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 442,725 shares of the financial services provider's stock after selling 17,598 shares during the period. Rhumbline Advisers owned about 0.26% of OUTFRONT Media worth $7,146,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Anson Funds Management LP bought a new position in shares of OUTFRONT Media in the 1st quarter worth $1,049,000. Strs Ohio bought a new position in shares of OUTFRONT Media in the 1st quarter worth $6,671,000. Advisors Capital Management LLC bought a new position in shares of OUTFRONT Media in the 1st quarter worth $22,330,000. Intech Investment Management LLC increased its holdings in shares of OUTFRONT Media by 18.1% in the 1st quarter. Intech Investment Management LLC now owns 98,774 shares of the financial services provider's stock worth $1,594,000 after buying an additional 15,145 shares during the last quarter. Finally, Woodline Partners LP increased its holdings in shares of OUTFRONT Media by 45.6% in the 1st quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider's stock worth $595,000 after buying an additional 11,559 shares during the last quarter.

OUTFRONT Media Trading Up 1.8%

Shares of OUT traded up $0.33 during trading hours on Wednesday, reaching $19.07. 223,415 shares of the company traded hands, compared to its average volume of 1,587,730. The company's fifty day moving average price is $18.22 and its two-hundred day moving average price is $16.72. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 1.12 and a beta of 1.87. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.60. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.80.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its earnings results 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 net margin of 5.99% and a return on equity of 18.07%. The firm had revenue of $460.20 million for the quarter, compared to analyst estimates of $463.16 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The company's revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts predict that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

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

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, EVP Mark Emilio Bonanni sold 4,126 shares of OUTFRONT Media stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the transaction, the executive vice president directly owned 4,170 shares of the company's stock, valued at approximately $80,814.60. The trade was a 49.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the transaction, the insider directly owned 8,913,813 shares of the company's stock, valued at $160,983,462.78. The trade was a 48.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on OUT shares. JPMorgan Chase & Co. reduced their target price on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Morgan Stanley increased their target price on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Wall Street Zen raised shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $21.00 target price on shares of OUTFRONT Media in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

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.