Walleye Capital LLC Cuts Position in OUTFRONT Media Inc. $OUT

Key Points

• Walleye Capital LLC significantly reduced its stake in OUTFRONT Media by selling 543,358 shares, leading to a total holding of 66,973 shares valued at approximately $1.08 million.
• OUTFRONT Media's quarterly results showed an earnings per share (EPS) of $0.51, surpassing expectations, but experienced a 3.6% drop in year-over-year revenue.
• The company recently declared a quarterly dividend of $0.30 per share, reflecting an annualized yield of 6.4%, although its dividend payout ratio currently stands at a high 206.90%.

Walleye Capital LLC lessened its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 89.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,973 shares of the financial services provider's stock after selling 543,358 shares during the quarter. Walleye Capital LLC's holdings in OUTFRONT Media were worth $1,081,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in OUTFRONT Media by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider's stock worth $11,093,000 after acquiring an additional 16,470 shares in the last quarter. GAMMA Investing LLC increased its holdings in OUTFRONT Media by 1,484.2% in the 1st quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider's stock worth $971,000 after acquiring an additional 56,342 shares in the last quarter. SG Americas Securities LLC increased its holdings in OUTFRONT Media by 429.8% in the 1st quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider's stock worth $529,000 after acquiring an additional 26,577 shares in the last quarter. Pacific Heights Asset Management LLC increased its holdings in OUTFRONT Media by 122.2% in 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 acquiring an additional 275,000 shares in the last quarter. Finally, New Age Alpha Advisors LLC increased its holdings in OUTFRONT Media by 162.1% in 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 acquiring an additional 76,486 shares in the last quarter.

OUTFRONT Media Trading Up 0.7%

Shares of OUT traded up $0.13 during mid-day trading on Friday, reaching $18.45. The stock had a trading volume of 383,637 shares, compared to its average volume of 1,588,348. The business's fifty day moving average is $17.91 and its 200 day moving average is $16.72. The company has a debt-to-equity ratio of 4.60, a current ratio of 0.61 and a quick ratio of 0.61. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $19.80. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 1.09 and a beta of 1.87.

OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The firm had revenue of $460.20 million for the quarter, compared to analyst estimates of $463.16 million. During the same period in the prior year, the business posted $0.50 EPS. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.5%. OUTFRONT Media's dividend payout ratio is currently 206.90%.

Analyst Ratings Changes

OUT has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Barrington Research reaffirmed an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, August 6th. JPMorgan Chase & Co. dropped their price objective on shares of OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. Finally, Wall Street Zen raised shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Insider Buying and Selling

In other OUTFRONT Media news, EVP Richard H. Sauer sold 20,109 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $15.88, for a total transaction of $319,330.92. Following the sale, the executive vice president owned 70,836 shares of the company's stock, valued at approximately $1,124,875.68. This trade represents a 22.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total transaction of $79,961.88. Following the sale, the executive vice president owned 4,170 shares of the company's stock, valued at approximately $80,814.60. This represents a 49.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,126 shares of company stock worth $871,272. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media 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.