Thrivent Financial for Lutherans Cuts Stock Position in OUTFRONT Media Inc. $OUT

Key Points

• Thrivent Financial for Lutherans cut its OUTFRONT Media stake by 32.3% in the fourth quarter, selling 137,708 shares and leaving it with 288,639 shares valued at about $6.96 million.
• OUTFRONT Media reported strong quarterly results, with earnings of $0.34 per share beating estimates by $0.06 and revenue up 10% year over year to $429.6 million.
• The company declared a quarterly dividend of $0.30 per share, or $1.20 annualized, yielding 3.7%, while analysts currently rate the stock a Moderate Buy with price targets mostly in the high $30s.

Thrivent Financial for Lutherans lessened its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 32.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,639 shares of the financial services provider's stock after selling 137,708 shares during the quarter. Thrivent Financial for Lutherans owned about 0.17% of OUTFRONT Media worth $6,956,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of OUTFRONT Media during the third quarter worth approximately $29,000. Farther Finance Advisors LLC raised its stake in shares of OUTFRONT Media by 157.6% during the fourth 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 during the last quarter. IFP Advisors Inc raised its stake in shares of OUTFRONT Media by 16.5% during the third quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider's stock worth $78,000 after purchasing an additional 582 shares during the last quarter. State of Wyoming raised its stake in shares of OUTFRONT Media by 155.5% during the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider's stock worth $130,000 after purchasing an additional 4,853 shares during the last quarter. Finally, Rossby Financial LCC raised its stake in shares of OUTFRONT Media by 14.2% during the third quarter. Rossby Financial LCC now owns 7,942 shares of the financial services provider's stock worth $144,000 after purchasing an additional 989 shares during the last quarter.

OUTFRONT Media Trading Up 2.3%

Shares of OUT stock opened at $32.86 on Thursday. The business's fifty day moving average price is $29.17 and its 200 day moving average price is $25.91. OUTFRONT Media Inc. has a 1-year low of $15.45 and a 1-year high of $34.96. The firm has a market capitalization of $5.78 billion, a PE ratio of 31.29, a P/E/G ratio of 1.54 and a beta of 1.50. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The firm had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. OUTFRONT Media's quarterly revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that OUTFRONT Media Inc. will post 2.08 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.20 annualized dividend and a yield of 3.7%. OUTFRONT Media's dividend payout ratio is 114.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OUT. Wall Street Zen cut OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Barrington Research set a $38.00 price objective on OUTFRONT Media in a report on Tuesday, May 12th. Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a report on Friday, May 8th. Zacks Research lowered OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. Finally, TD Cowen reaffirmed a "buy" rating and set a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.71.

Insider Buying and Selling at OUTFRONT Media

In other OUTFRONT Media news, EVP Matthew Siegel sold 50,000 shares of the company's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $25.79, for a total value of $1,289,500.00. Following the sale, the executive vice president owned 289,925 shares of the company's stock, valued at approximately $7,477,165.75. This represents a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel A. Diaz sold 11,271 shares of the company's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $26.93, for a total value of $303,528.03. Following the completion of the sale, the director directly owned 36,244 shares in the company, valued at $976,050.92. This trade represents a 23.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by corporate insiders.

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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