Pacific Heights Asset Management LLC Purchases 275,000 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Pacific Heights Asset Management LLC raised its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 122.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the financial services provider's stock after buying an additional 275,000 shares during the quarter. Pacific Heights Asset Management LLC owned about 0.30% of OUTFRONT Media worth $8,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OUT. FMR LLC grew its position in shares of OUTFRONT Media by 132.5% in the 4th quarter. FMR LLC now owns 15,604,202 shares of the financial services provider's stock worth $276,819,000 after buying an additional 8,892,411 shares during the period. Cohen & Steers Inc. lifted its position in OUTFRONT Media by 87.8% during the 4th quarter. Cohen & Steers Inc. now owns 5,243,211 shares of the financial services provider's stock valued at $93,015,000 after acquiring an additional 2,450,632 shares during the period. Wellington Management Group LLP boosted its stake in OUTFRONT Media by 9.1% during the fourth quarter. Wellington Management Group LLP now owns 4,115,268 shares of the financial services provider's stock worth $73,005,000 after acquiring an additional 342,413 shares in the last quarter. Lasalle Investment Management Securities LLC grew its holdings in OUTFRONT Media by 2.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,146,553 shares of the financial services provider's stock worth $55,820,000 after purchasing an additional 64,072 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in OUTFRONT Media by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,054,331 shares of the financial services provider's stock worth $54,184,000 after purchasing an additional 15,455 shares during the period.

Wall Street Analyst Weigh In

OUT has been the topic of a number of analyst reports. Wall Street Zen cut OUTFRONT Media from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Wells Fargo & Company dropped their target price on OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. cut their target price on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Citigroup restated a "buy" rating and set a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Finally, Morgan Stanley dropped their price target on shares of OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.23.

Insider Transactions at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 29,891 shares of the firm'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 sale, the executive vice president owned 90,945 shares of the company's stock, valued at $1,436,021.55. This trade represents a 24.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.47% of the company's stock.

OUTFRONT Media Stock Up 0.1%

OUT stock traded up $0.01 during midday trading on Friday, hitting $17.15. The company's stock had a trading volume of 664,893 shares, compared to its average volume of 1,662,545. The firm's 50-day moving average is $16.10 and its 200-day moving average is $16.83. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.37. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.98. The company has a market cap of $2.87 billion, a PE ratio of 11.29, a P/E/G ratio of 1.04 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). OUTFRONT Media had a return on equity of 42.24% and a net margin of 14.60%. The business had revenue of $390.70 million during the quarter, compared to analysts' expectations of $396.17 million. On average, equities research analysts forecast that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, June 6th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date was Friday, June 6th. OUTFRONT Media's dividend payout ratio (DPR) is 78.95%.

OUTFRONT Media Company 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.