Public Employees Retirement System of Ohio Buys 117,154 Shares of OUTFRONT Media Inc. $OUT

Key Points

• Public Employees Retirement System of Ohio increased its OUTFRONT Media stake by 215.9%, adding 117,154 shares to own 171,417 shares valued at approximately $4.54 million.
• OUTFRONT Media exceeded quarterly EPS expectations, reporting $0.34 versus the $0.28 consensus estimate, while revenue rose 10% year over year to $429.6 million.
• The company maintains a quarterly dividend of $0.30, equal to a 3.7% annualized yield, while analysts hold a “Moderate Buy” consensus rating with price targets generally ranging from $37 to $38.

Public Employees Retirement System of Ohio lifted its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 215.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 171,417 shares of the financial services provider's stock after acquiring an additional 117,154 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.10% of OUTFRONT Media worth $4,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Advisory Services Network LLC bought a new position in OUTFRONT Media in the third quarter valued at approximately $29,000. Farther Finance Advisors LLC raised its stake in shares of OUTFRONT Media by 157.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider's stock worth $56,000 after purchasing an additional 1,431 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of OUTFRONT Media during the 4th quarter worth approximately $71,000. IFP Advisors Inc boosted its holdings in shares of OUTFRONT Media by 16.5% in the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider's stock valued at $78,000 after buying an additional 582 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of OUTFRONT Media by 155.5% in the 2nd quarter. State of Wyoming now owns 7,973 shares of the financial services provider's stock valued at $130,000 after buying an additional 4,853 shares during the last quarter.

Insider Buying and Selling at OUTFRONT Media

In other OUTFRONT Media news, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total value of $160,400.00. Following the transaction, the executive vice president owned 56,947 shares in the company, valued at $1,826,859.76. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Michael Norton acquired 4,130 shares of OUTFRONT Media stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $30.81 per share, for a total transaction of $127,245.30. Following the transaction, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 20,000 shares of company stock worth $629,600. Corporate insiders own 0.45% of the company's stock.

OUTFRONT Media Price Performance

Shares of NYSE OUT opened at $32.71 on Thursday. The firm has a market cap of $5.76 billion, a P/E ratio of 31.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.48. The business's 50 day moving average is $32.24 and its 200-day moving average is $29.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. OUTFRONT Media Inc. has a 1-year low of $16.64 and a 1-year high of $34.96.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The company had revenue of $429.60 million during the quarter, compared to analysts' expectations of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. OUTFRONT Media's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share. Equities research analysts predict that OUTFRONT Media Inc. will post 2.11 earnings per share for the current year.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid a $0.30 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. OUTFRONT Media's dividend payout ratio (DPR) is presently 114.29%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $38.00 target price on shares of OUTFRONT Media in a report on Wednesday, July 22nd. TD Cowen reissued a "buy" rating and set a $38.00 price target (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Morgan Stanley set a $37.00 price target on OUTFRONT Media in a research report on Friday, May 8th. Wall Street Zen cut OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Finally, Barrington Research set a $38.00 target price on OUTFRONT Media in a research note on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, OUTFRONT Media presently has an average rating of "Moderate Buy" and an average target price of $32.57.

About OUTFRONT Media

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.

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