Renaissance Technologies LLC Boosts Stock Holdings in OUTFRONT Media Inc. $OUT

Renaissance Technologies LLC grew its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 615.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 285,667 shares of the financial services provider’s stock after buying an additional 245,721 shares during the period. Renaissance Technologies LLC owned 0.16% of OUTFRONT Media worth $7,570,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in OUT. Gamco Investors INC. ET AL lifted its position in OUTFRONT Media by 0.7% during the first quarter. Gamco Investors INC. ET AL now owns 51,648 shares of the financial services provider’s stock valued at $1,369,000 after buying an additional 351 shares in the last quarter. CWM LLC raised its stake in shares of OUTFRONT Media by 5.5% in the 4th quarter. CWM LLC now owns 8,682 shares of the financial services provider’s stock valued at $209,000 after acquiring an additional 453 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of OUTFRONT Media by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,383 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 468 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of OUTFRONT Media by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,256 shares of the financial services provider’s stock valued at $801,000 after acquiring an additional 500 shares in the last quarter. Finally, Convergence Investment Partners LLC boosted its position in OUTFRONT Media by 0.7% during the 1st quarter. Convergence Investment Partners LLC now owns 78,004 shares of the financial services provider’s stock worth $2,067,000 after purchasing an additional 537 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OUT. Morgan Stanley set a $37.00 price target on OUTFRONT Media in a report on Friday, May 8th. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. TD Cowen reiterated a “buy” rating and issued a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $38.00 target price on shares of OUTFRONT Media in a report on Wednesday, July 22nd. Finally, Barrington Research set a $38.00 price target on OUTFRONT Media in a research report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.57.

Insider Activity at OUTFRONT Media

In other OUTFRONT Media news, EVP James Michael Norton bought 4,130 shares of OUTFRONT Media stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the purchase, the executive vice president owned 4,130 shares in the company, valued at $127,245.30. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard H. Sauer sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the sale, the executive vice president directly owned 56,947 shares of the company’s stock, valued at $1,826,859.76. The trade was a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 20,000 shares of company stock valued at $629,600. Company insiders own 0.45% of the company’s stock.

OUTFRONT Media Stock Down 0.0%

Shares of OUTFRONT Media stock opened at $31.87 on Tuesday. OUTFRONT Media Inc. has a 1-year low of $16.64 and a 1-year high of $34.96. The company has a market capitalization of $5.61 billion, a PE ratio of 30.35, a P/E/G ratio of 1.51 and a beta of 1.49. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average of $32.14 and a 200-day moving average of $29.45.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The business had revenue of $429.60 million for the quarter, compared to analysts’ expectations of $431.44 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that OUTFRONT Media Inc. will post 2.11 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, June 5th. OUTFRONT Media’s dividend payout ratio is presently 114.29%.

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.