Wellington Management Group LLP Cuts Stake in OUTFRONT Media Inc. $OUT

Key Points

• Wellington Management Group LLP reduced its stake in OUTFRONT Media Inc. by 4.3% in the first quarter, owning 3,938,567 shares valued at approximately $63.57 million.
• OUTFRONT Media reported $0.51 EPS for the last quarter, surpassing analyst expectations of $0.48, while its revenue declined by 3.6% year-over-year to $460.20 million.
• The company is set to pay a quarterly dividend of $0.30 on September 30, representing an annualized yield of 6.3%, although it has a high dividend payout ratio of 206.90%.

Wellington Management Group LLP lessened its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,938,567 shares of the financial services provider's stock after selling 176,701 shares during the quarter. Wellington Management Group LLP owned about 2.36% of OUTFRONT Media worth $63,568,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OUT. Caitong International Asset Management Co. Ltd raised its stake in OUTFRONT Media by 158.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider's stock worth $54,000 after buying an additional 2,041 shares during the period. Rossby Financial LCC bought a new position in shares of OUTFRONT Media in the 1st quarter worth $74,000. Lazard Asset Management LLC bought a new position in shares of OUTFRONT Media in the fourth quarter valued at $113,000. IFP Advisors Inc lifted its stake in shares of OUTFRONT Media by 97.6% in the first quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider's stock valued at $113,000 after buying an additional 3,313 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of OUTFRONT Media by 8.5% during the first quarter. Signaturefd LLC now owns 9,203 shares of the financial services provider's stock valued at $149,000 after buying an additional 722 shares during the last quarter.

Analysts Set New Price Targets

OUT has been the topic of a number of analyst reports. Wells Fargo & Company restated an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Morgan Stanley increased their price objective on OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Wall Street Zen raised OUTFRONT Media from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup reissued a "buy" rating and set a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. Finally, Barrington Research restated an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, OUTFRONT Media currently has an average rating of "Moderate Buy" and an average price target of $19.00.

OUTFRONT Media Price Performance

Shares of OUT traded down $0.36 during midday trading on Monday, hitting $18.82. 1,789,006 shares of the company traded hands, compared to its average volume of 1,696,091. The stock has a 50-day moving average of $17.47 and a 200-day moving average of $16.71. 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 one year low of $12.95 and a one year high of $19.80. The firm has a market cap of $3.15 billion, a P/E ratio of 32.20, a PEG ratio of 1.14 and a beta of 1.89.

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

OUTFRONT Media Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Friday, September 5th. OUTFRONT Media's dividend payout ratio is currently 206.90%.

Insider Activity

In other OUTFRONT Media news, EVP Richard H. Sauer sold 20,109 shares of the business'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 value of $319,330.92. Following the completion of the transaction, the executive vice president owned 70,836 shares of the company's stock, valued at $1,124,875.68. The trade was a 22.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.47% of the company's stock.

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.