BTC Capital Management Inc. Increases Stock Holdings in OUTFRONT Media Inc. $OUT

BTC Capital Management Inc. lifted its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 28.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,136 shares of the financial services provider’s stock after buying an additional 42,610 shares during the quarter. BTC Capital Management Inc.’s holdings in OUTFRONT Media were worth $5,116,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Balyasny Asset Management L.P. grew its position in shares of OUTFRONT Media by 226.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,310,195 shares of the financial services provider’s stock valued at $55,676,000 after buying an additional 1,603,315 shares during the last quarter. Vanguard Group Inc. boosted its stake in OUTFRONT Media by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider’s stock valued at $545,983,000 after acquiring an additional 1,131,954 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in OUTFRONT Media by 85.2% in the second quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider’s stock valued at $29,192,000 after acquiring an additional 822,845 shares in the last quarter. Woodline Partners LP purchased a new position in shares of OUTFRONT Media during the third quarter worth about $13,705,000. Finally, Federated Hermes Inc. grew its holdings in shares of OUTFRONT Media by 199.9% during the fourth quarter. Federated Hermes Inc. now owns 905,641 shares of the financial services provider’s stock worth $21,826,000 after purchasing an additional 603,694 shares during the last quarter.

Insider Activity

In other news, EVP Richard H. Sauer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $31.13, for a total transaction of $155,650.00. Following the completion of the sale, the executive vice president owned 66,947 shares in the company, valued at $2,084,060.11. This represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Michael Norton purchased 4,130 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $30.81 per share, with a total value of $127,245.30. Following the completion of the acquisition, the executive vice president owned 4,130 shares of the company’s stock, valued at approximately $127,245.30. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 65,000 shares of company stock valued at $1,758,700. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on OUT. Zacks Research cut OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Wall Street Zen cut OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 20th. Wells Fargo & Company raised their price target on OUTFRONT Media from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Morgan Stanley set a $37.00 price target on OUTFRONT Media in a research report on Friday, May 8th. Finally, TD Cowen reissued 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. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, OUTFRONT Media currently has an average rating of “Moderate Buy” and a consensus target price of $30.71.

OUTFRONT Media Stock Performance

NYSE OUT opened at $32.05 on Thursday. The firm has a market cap of $5.64 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.52 and a beta of 1.49. OUTFRONT Media Inc. has a 52-week low of $15.56 and a 52-week high of $34.96. The business’s 50-day moving average price is $31.41 and its 200 day moving average price is $27.74. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90.

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, beating the consensus estimate of $0.28 by $0.06. The firm had revenue of $429.60 million during the quarter, compared to the consensus estimate of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. On average, equities research analysts expect that OUTFRONT Media Inc. will post 2.12 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. OUTFRONT Media’s payout ratio is presently 114.29%.

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.