Walleye Capital LLC Reduces Stock Position in OUTFRONT Media Inc. $OUT

Walleye Capital LLC cut its stake in OUTFRONT Media Inc. (NYSE:OUT) by 58.5% in the first quarter, HoldingsChannel.com reports. The fund owned 499,988 shares of the financial services provider’s stock after selling 703,624 shares during the period. Walleye Capital LLC’s holdings in OUTFRONT Media were worth $13,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in shares of OUTFRONT Media by 9.3% during the first quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider’s stock valued at $2,105,000 after purchasing an additional 11,073 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in OUTFRONT Media by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider’s stock worth $1,388,000 after purchasing an additional 1,739 shares during the last quarter. Goldman Sachs Group Inc. grew its position in OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock worth $80,393,000 after purchasing an additional 448,993 shares during the period. Empowered Funds LLC grew its position in OUTFRONT Media by 12.4% in the 1st quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 2,357 shares during the period. Finally, Woodline Partners LP raised its stake in OUTFRONT Media by 45.6% during the 1st quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider’s stock valued at $595,000 after buying an additional 11,559 shares during the last quarter.

OUTFRONT Media Trading Down 0.4%

Shares of OUTFRONT Media stock opened at $31.88 on Thursday. OUTFRONT Media Inc. has a 1-year low of $16.64 and a 1-year high of $34.96. The company’s fifty day simple moving average is $32.24 and its 200-day simple moving average is $29.01. 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 stock has a market capitalization of $5.61 billion, a PE ratio of 30.36, a P/E/G ratio of 1.51 and a beta of 1.48.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data 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 firm had revenue of $429.60 million during the quarter, compared to analyst estimates of $431.44 million. During the same period in the prior year, the business posted $0.14 EPS. OUTFRONT Media’s revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that OUTFRONT Media Inc. will post 2.12 earnings per share for the current year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, June 5th. OUTFRONT Media’s payout ratio is currently 114.29%.

Insider Transactions at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Michael Norton acquired 4,130 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $30.81 per share, with a total value of $127,245.30. Following the completion of the purchase, the executive vice president owned 4,130 shares in the company, valued at $127,245.30. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 20,000 shares of company stock valued at $629,600. Company insiders own 0.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OUT shares. Barrington Research set a $38.00 price target on OUTFRONT Media in a report on Tuesday, May 12th. TD Cowen reaffirmed a “buy” rating and issued a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Morgan Stanley set a $37.00 target price on OUTFRONT Media in a report on Friday, May 8th. Wall Street Zen raised OUTFRONT Media from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $38.00 price target on shares of OUTFRONT Media in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.57.

About OUTFRONT Media

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.