Pacific Heights Asset Management LLC Raises Holdings in OUTFRONT Media Inc. (NYSE:OUT)

Pacific Heights Asset Management LLC boosted its holdings in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 122.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the financial services provider's stock after acquiring an additional 275,000 shares during the period. Pacific Heights Asset Management LLC owned 0.30% of OUTFRONT Media worth $8,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new position in OUTFRONT Media in the 4th quarter valued at $47,000. Sterling Capital Management LLC raised its position in OUTFRONT Media by 672.5% in 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 during the last quarter. Smartleaf Asset Management LLC raised its position in shares of OUTFRONT Media by 155.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,198 shares of the financial services provider's stock worth $73,000 after acquiring an additional 2,555 shares during the last quarter. Rossby Financial LCC acquired a new stake in OUTFRONT Media during the first quarter worth approximately $74,000. Finally, Lazard Asset Management LLC acquired a new stake in OUTFRONT Media during the fourth quarter worth approximately $113,000.

OUTFRONT Media Stock Down 2.3%

Shares of NYSE:OUT traded down $0.39 during trading on Monday, hitting $16.76. The stock had a trading volume of 1,558,414 shares, compared to its average volume of 1,665,583. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.98. The company has a market capitalization of $2.80 billion, a PE ratio of 11.04, a PEG ratio of 1.04 and a beta of 1.87. The firm's fifty day moving average is $16.12 and its 200 day moving average is $16.80. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.37.

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). The company had revenue of $390.70 million during the quarter, compared to analysts' expectations of $396.17 million. OUTFRONT Media had a return on equity of 42.24% and a net margin of 14.60%. Analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.20 annualized dividend and a dividend yield of 7.16%. OUTFRONT Media's payout ratio is currently 78.95%.

Insider Buying and Selling at OUTFRONT Media

In related news, EVP Richard H. Sauer sold 20,109 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $15.88, for a total value of $319,330.92. Following the sale, the executive vice president owned 70,836 shares in the company, valued at $1,124,875.68. This represents a 22.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barrington Research reissued an "outperform" rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. Wall Street Zen lowered OUTFRONT Media from a "hold" rating to a "sell" rating in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Morgan Stanley dropped their price target on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their target price on OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.23.

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.