Vanguard Group Inc. Sells 134,399 Shares of OUTFRONT Media Inc. $OUT

Key Points

• Vanguard Group Inc. reduced its holdings in OUTFRONT Media by 0.6%, selling 134,399 shares and owning about 12.88% of the company worth $347.24 million.
• OUTFRONT Media recently reported an earnings per share of $0.51, beating analysts' expectations, despite revenue declining by 3.6% compared to the previous year.
• The company announced a quarterly dividend of $0.30 per share, translating to an annualized yield of 6.4%, alongside a high payout ratio of 206.90%.

Vanguard Group Inc. trimmed its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,514,410 shares of the financial services provider's stock after selling 134,399 shares during the quarter. Vanguard Group Inc. owned about 12.88% of OUTFRONT Media worth $347,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of OUTFRONT Media by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider's stock worth $11,093,000 after buying an additional 16,470 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of OUTFRONT Media by 1,484.2% during the 1st quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider's stock worth $971,000 after buying an additional 56,342 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of OUTFRONT Media by 429.8% during the 1st quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider's stock worth $529,000 after buying an additional 26,577 shares in the last quarter. Pacific Heights Asset Management LLC raised its stake in shares of OUTFRONT Media by 122.2% during the 1st quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider's stock worth $8,070,000 after buying an additional 275,000 shares in the last quarter. Finally, New Age Alpha Advisors LLC raised its stake in shares of OUTFRONT Media by 162.1% during the 1st quarter. New Age Alpha Advisors LLC now owns 123,675 shares of the financial services provider's stock worth $1,996,000 after buying an additional 76,486 shares in the last quarter.

Insiders Place Their Bets

In other OUTFRONT Media news, EVP Richard H. Sauer sold 29,891 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $471,978.89. Following the completion of the transaction, the executive vice president owned 90,945 shares of the company's stock, valued at approximately $1,436,021.55. This trade represents a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barrington Research reissued an "outperform" rating and set a $21.00 target price on shares of OUTFRONT Media in a research note on Wednesday, August 6th. Citigroup reaffirmed a "buy" rating and issued a $19.00 price objective (up from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Wall Street Zen raised OUTFRONT Media from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. dropped their price objective on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $19.00.

OUTFRONT Media Price Performance

OUTFRONT Media stock traded down $0.1190 during mid-day trading on Thursday, hitting $18.8810. 1,070,332 shares of the company were exchanged, compared to its average volume of 1,544,105. The company has a debt-to-equity ratio of 4.60, a current ratio of 0.61 and a quick ratio of 0.61. The business's 50 day simple moving average is $17.34 and its two-hundred day simple moving average is $16.73. The company has a market capitalization of $3.16 billion, a P/E ratio of 32.30, a PEG ratio of 1.13 and a beta of 1.89. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $19.50.

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

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.20 annualized dividend and a yield of 6.4%. OUTFRONT Media's dividend payout ratio (DPR) is presently 206.90%.

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.