State of Alaska Department of Revenue Sells 22,184 Shares of OUTFRONT Media Inc. $OUT

State of Alaska Department of Revenue cut its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 16.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,043 shares of the financial services provider’s stock after selling 22,184 shares during the period. State of Alaska Department of Revenue owned 0.07% of OUTFRONT Media worth $3,219,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in OUT. ZWJ Investment Counsel Inc. boosted its stake in OUTFRONT Media by 0.6% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 639,155 shares of the financial services provider’s stock valued at $17,737,000 after purchasing an additional 3,725 shares during the period. GAMMA Investing LLC grew its holdings in OUTFRONT Media by 5.3% in the 3rd quarter. GAMMA Investing LLC now owns 10,578 shares of the financial services provider’s stock valued at $294,000 after buying an additional 530 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in OUTFRONT Media in the 2nd quarter valued at approximately $1,657,000. Arizona State Retirement System increased its position in OUTFRONT Media by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 42,505 shares of the financial services provider’s stock worth $1,392,000 after buying an additional 1,178 shares during the period. Finally, Nykredit A S bought a new position in OUTFRONT Media in the 2nd quarter worth approximately $84,000.

Insider Transactions at OUTFRONT Media

In related news, EVP Matthew Siegel sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $27.84, for a total transaction of $696,000.00. Following the transaction, the executive vice president directly owned 264,925 shares in the company, valued at $7,375,512. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Emilio Bonanni sold 3,385 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $29.82, for a total value of $100,940.70. Following the transaction, the executive vice president owned 10,420 shares in the company, valued at $310,724.40. This represents a 24.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.45% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on OUT. Citigroup reiterated a “buy” rating on shares of OUTFRONT Media in a report on Tuesday, September 8th. TD Cowen reissued a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of OUTFRONT Media in a research report on Thursday, August 6th. Wall Street Zen cut OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $38.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their price objective on shares of OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

OUTFRONT Media Stock Performance

NYSE:OUT opened at $30.36 on Friday. The firm’s 50-day moving average is $29.20 and its 200-day moving average is $30.59. OUTFRONT Media Inc. has a 52-week low of $16.97 and a 52-week high of $34.96. The company has a debt-to-equity ratio of 3.50, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 21.84 and a beta of 1.53.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. The business had revenue of $522.50 million during the quarter, compared to analyst estimates of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. Equities research analysts anticipate that OUTFRONT Media Inc. will post 2.18 earnings per share for the current year.

OUTFRONT Media Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 4th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. This is a boost from OUTFRONT Media’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, September 4th. OUTFRONT Media’s dividend payout ratio (DPR) is 94.96%.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is an out-of-home advertising company that provides brands and agencies with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, urban panels, street furniture, transit advertising, and other display formats designed to reach consumers in public spaces.

The company’s advertising inventory is used across major metropolitan areas and transportation systems in the United States. OUTFRONT combines its media assets with audience measurement, data and analytics, creative services, and digital advertising capabilities to help advertisers plan, deliver, and evaluate campaigns.

OUTFRONT Media was formed from the former CBS Outdoor Americas business and adopted its current name in 2014 following its separation from CBS Corporation.