DigitalBridge Group Inc. Sells 53,008 Shares of OUTFRONT Media Inc. $OUT

DigitalBridge Group Inc. trimmed its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 5.5% during the third quarter, HoldingsChannel reports. The firm owned 916,200 shares of the financial services provider’s stock after selling 53,008 shares during the quarter. OUTFRONT Media comprises 1.3% of DigitalBridge Group Inc.’s portfolio, making the stock its 28th largest holding. DigitalBridge Group Inc.’s holdings in OUTFRONT Media were worth $16,785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in OUTFRONT Media during the 3rd quarter worth $260,000. Woodline Partners LP acquired a new position in OUTFRONT Media in the third quarter valued at about $13,705,000. Mariner LLC increased its holdings in shares of OUTFRONT Media by 37.7% in the third quarter. Mariner LLC now owns 63,610 shares of the financial services provider’s stock worth $1,165,000 after acquiring an additional 17,408 shares in the last quarter. Millennium Management LLC raised its position in shares of OUTFRONT Media by 141.8% during the third quarter. Millennium Management LLC now owns 266,056 shares of the financial services provider’s stock worth $4,874,000 after purchasing an additional 156,010 shares during the period. Finally, CSM Advisors LLC raised its position in shares of OUTFRONT Media by 13.8% during the third quarter. CSM Advisors LLC now owns 50,702 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 6,149 shares during the period.

OUTFRONT Media Trading Up 0.1%

NYSE OUT opened at $27.24 on Wednesday. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $29.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.63. The stock has a 50 day moving average of $26.02 and a 200-day moving average of $22.43. The company has a market cap of $4.80 billion, a PE ratio of 34.05, a PEG ratio of 1.35 and a beta of 1.51.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.16). OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The firm had revenue of $513.30 million for the quarter, compared to the consensus estimate of $511.61 million. On average, equities research analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a yield of 4.4%. OUTFRONT Media’s dividend payout ratio (DPR) is presently 150.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barrington Research boosted their price objective on OUTFRONT Media from $27.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Morgan Stanley upgraded shares of OUTFRONT Media from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $20.00 to $28.00 in a report on Tuesday, December 16th. TD Cowen increased their price objective on shares of OUTFRONT Media from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Zacks Research cut shares of OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Wells Fargo & Company upped their target price on shares of OUTFRONT Media from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, OUTFRONT Media has an average rating of “Moderate Buy” and an average price target of $27.86.

Insider Buying and Selling

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $24.49, for a total transaction of $276,026.79. Following the transaction, the director owned 47,515 shares of the company’s stock, valued at $1,163,642.35. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

OUTFRONT Media Profile

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.