EMC Capital Management Takes $174,000 Position in OUTFRONT Media Inc. $OUT

EMC Capital Management purchased a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 10,662 shares of the financial services provider’s stock, valued at approximately $174,000.

A number of other institutional investors also recently bought and sold shares of the stock. Advisors Capital Management LLC bought a new stake in OUTFRONT Media during the 1st quarter valued at approximately $22,330,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of OUTFRONT Media in the 1st quarter worth approximately $14,177,000. Boothbay Fund Management LLC purchased a new position in shares of OUTFRONT Media in the 1st quarter valued at approximately $11,388,000. Invesco Ltd. boosted its position in shares of OUTFRONT Media by 7.6% during the first quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider’s stock valued at $126,476,000 after purchasing an additional 555,568 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of OUTFRONT Media by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock valued at $80,393,000 after purchasing an additional 448,993 shares in the last quarter.

Insider Activity at OUTFRONT Media

In other OUTFRONT Media news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the sale, the insider directly owned 8,913,813 shares in the company, valued at approximately $160,983,462.78. This trade represents a 48.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Emilio Bonanni sold 4,126 shares of OUTFRONT Media stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the sale, the executive vice president directly owned 4,170 shares of the company’s stock, valued at approximately $80,814.60. The trade was a 49.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD Cowen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Tuesday, November 11th. Morgan Stanley increased their price target on shares of OUTFRONT Media from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. New Street Research set a $24.00 price target on shares of OUTFRONT Media in a research report on Tuesday, November 11th. Citigroup reissued a “buy” rating and set a $23.00 price objective (up previously from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. Finally, Wall Street Zen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

OUTFRONT Media Stock Performance

Shares of OUTFRONT Media stock opened at $22.24 on Wednesday. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 1.22 and a beta of 1.82. The firm’s 50-day moving average is $18.58 and its 200 day moving average is $17.66. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $22.28. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The firm had revenue of $467.50 million for the quarter, compared to the consensus estimate of $458.32 million. OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. Sell-side analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Friday, December 5th. OUTFRONT Media’s payout ratio is presently 176.47%.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.