Wellington Management Group LLP Sells 176,701 Shares of 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 reduced its stake in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F 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 2.36% of OUTFRONT Media worth $63,568,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of OUT. Wells Fargo & Company MN increased its stake in shares of OUTFRONT Media by 40.1% in the fourth quarter. Wells Fargo & Company MN now owns 94,898 shares of the financial services provider's stock valued at $1,684,000 after buying an additional 27,166 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of OUTFRONT Media in the fourth quarter valued at $980,000. Mariner LLC increased its stake in shares of OUTFRONT Media by 15.4% in the fourth quarter. Mariner LLC now owns 55,980 shares of the financial services provider's stock valued at $993,000 after buying an additional 7,455 shares in the last quarter. First Trust Advisors LP increased its stake in shares of OUTFRONT Media by 153.5% in the fourth quarter. First Trust Advisors LP now owns 307,532 shares of the financial services provider's stock valued at $5,456,000 after buying an additional 186,241 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of OUTFRONT Media by 7.2% in the fourth quarter. MetLife Investment Management LLC now owns 96,048 shares of the financial services provider's stock valued at $1,704,000 after buying an additional 6,466 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded OUTFRONT Media from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley raised their target price on OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. JPMorgan Chase & Co. lowered their price objective on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Barrington Research reiterated an "outperform" rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, August 6th. Finally, Citigroup reiterated a "buy" rating and issued a $19.00 price objective (up from $17.00) on shares of OUTFRONT Media in a research report on Thursday, May 29th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

OUTFRONT Media Trading Down 2.1%

OUT stock traded down $0.40 during midday trading on Thursday, reaching $18.54. The stock had a trading volume of 210,990 shares, compared to its average volume of 1,592,500. The business has a fifty day simple moving average of $17.59 and a two-hundred day simple moving average of $16.73. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.60. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 1.10 and a beta of 1.89. OUTFRONT Media Inc. has a twelve month low of $12.95 and a twelve month high of $19.80.

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

OUTFRONT Media Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a yield of 6.5%. OUTFRONT Media's dividend payout ratio (DPR) is 206.90%.

Insider Transactions at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 29,891 shares of OUTFRONT Media stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $15.79, for a total transaction of $471,978.89. Following the transaction, the executive vice president owned 90,945 shares in the company, valued at $1,436,021.55. The trade was a 24.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the sale, the executive vice president owned 4,170 shares in the company, valued at $80,814.60. The trade was a 49.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,126 shares of company stock worth $871,272. Company insiders own 0.47% of the company's stock.

About OUTFRONT Media

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.