OUTFRONT Media Inc. $OUT Stock Holdings Lessened by Rhumbline Advisers

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 reduced its position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in OUTFRONT Media by 7.6% during the 1st quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider's stock valued at $126,476,000 after buying an additional 555,568 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in OUTFRONT Media by 9.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock valued at $80,393,000 after buying an additional 448,993 shares during the last quarter. Wellington Management Group LLP grew its holdings in OUTFRONT Media by 9.1% during the 4th quarter. Wellington Management Group LLP now owns 4,115,268 shares of the financial services provider's stock valued at $73,005,000 after buying an additional 342,413 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in OUTFRONT Media by 7.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,248,114 shares of the financial services provider's stock valued at $36,285,000 after buying an additional 153,617 shares during the last quarter. Finally, LSV Asset Management grew its holdings in OUTFRONT Media by 25.7% during the 1st quarter. LSV Asset Management now owns 2,005,448 shares of the financial services provider's stock valued at $32,368,000 after buying an additional 410,086 shares during the last quarter.

Insider Activity at OUTFRONT Media

In related news, EVP Mark Emilio Bonanni sold 4,126 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the sale, the executive vice president directly owned 4,170 shares of the company's stock, valued at $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 available through this link. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total value of $151,704,000.00. Following the completion of the sale, the insider directly owned 8,913,813 shares of the company's stock, valued at approximately $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,424,235 shares of company stock valued at $152,103,293 over the last three months. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

OUT has been the topic of a number of analyst reports. Citigroup reiterated a "buy" rating and set a $19.00 target price (up previously from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Wall Street Zen upgraded OUTFRONT Media from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley raised their price objective on OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Wells Fargo & Company restated an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Finally, JPMorgan Chase & Co. decreased their price objective on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, OUTFRONT Media has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

OUTFRONT Media Stock Up 1.1%

NYSE:OUT traded up $0.21 during mid-day trading on Friday, hitting $18.94. The company had a trading volume of 1,272,121 shares, compared to its average volume of 1,518,978. The business has a fifty day simple moving average of $18.14 and a 200-day simple moving average of $16.71. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $19.80. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 1.11 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. OUTFRONT Media had a return on equity of 18.07% and a net margin of 5.99%.The company had revenue of $460.20 million for the quarter, compared to analyst estimates of $463.16 million. During the same period last year, the company posted $0.50 earnings per share. The firm's revenue was down 3.6% compared to the same quarter last year. Equities analysts forecast that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, September 5th. OUTFRONT Media's payout ratio is presently 206.90%.

About OUTFRONT Media

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.