OUTFRONT Media Inc. $OUT Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 36.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,542,850 shares of the financial services provider’s stock after selling 2,010,669 shares during the period. Wellington Management Group LLP’s holdings in OUTFRONT Media were worth $116,064,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in OUTFRONT Media in the third quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in shares of OUTFRONT Media during the 2nd quarter worth about $34,000. EverSource Wealth Advisors LLC grew its position in shares of OUTFRONT Media by 74.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 686 shares during the period. Farther Finance Advisors LLC grew its position in shares of OUTFRONT Media by 157.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 1,431 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of OUTFRONT Media during the 4th quarter valued at about $71,000.

Insider Buying and Selling

In other news, 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 value of $160,400.00. Following the transaction, the executive vice president owned 56,947 shares in the company, valued at $1,826,859.76. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Michael Norton purchased 4,130 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the purchase, the executive vice president directly owned 4,130 shares of the company’s stock, valued at approximately $127,245.30. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 20,000 shares of company stock valued at $629,600 in the last three months. Insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OUT. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $38.00 price target on shares of OUTFRONT Media in a report on Wednesday, July 22nd. TD Cowen reissued a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of OUTFRONT Media in a report on Thursday, August 6th. Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a research report on Friday, May 8th. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Wells Fargo & Company increased their target price on OUTFRONT Media from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

OUTFRONT Media Stock Up 1.4%

OUT stock opened at $29.79 on Wednesday. OUTFRONT Media Inc. has a 52 week low of $16.97 and a 52 week high of $34.96. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.50. The firm has a 50-day simple moving average of $31.65 and a 200-day simple moving average of $30.20. The stock has a market capitalization of $5.25 billion, a P/E ratio of 21.43 and a beta of 1.48.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The firm had revenue of $522.50 million for the quarter, compared to analyst estimates of $509.61 million. During the same period last year, the company posted $0.51 EPS. OUTFRONT Media’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that OUTFRONT Media Inc. will post 2.18 earnings per share for the current fiscal year.

OUTFRONT Media Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from OUTFRONT Media’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.4%. OUTFRONT Media’s payout ratio is currently 86.33%.

OUTFRONT Media Company 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.