Outfront Media Inc (OUT) Stake Lowered by Harvey Capital Management Inc.
Harvey Capital Management Inc. lessened its holdings in Outfront Media Inc (NYSE:OUT) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,700 shares of the financial services provider’s stock after selling 5,300 shares during the period. Harvey Capital Management Inc.’s holdings in Outfront Media were worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in Outfront Media by 83.4% during the 3rd quarter. Alliancebernstein L.P. now owns 134,650 shares of the financial services provider’s stock worth $2,686,000 after acquiring an additional 61,242 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Outfront Media by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,008,525 shares of the financial services provider’s stock worth $79,970,000 after purchasing an additional 56,951 shares during the period. Dimensional Fund Advisors LP increased its holdings in Outfront Media by 12.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,729,898 shares of the financial services provider’s stock worth $34,510,000 after purchasing an additional 187,318 shares during the period. Renaissance Technologies LLC increased its holdings in Outfront Media by 1,270.7% during the 3rd quarter. Renaissance Technologies LLC now owns 696,300 shares of the financial services provider’s stock worth $13,891,000 after purchasing an additional 645,500 shares during the period. Finally, LPL Financial LLC purchased a new stake in Outfront Media during the 3rd quarter worth about $413,000. 96.46% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Jeremy J. Male sold 80,000 shares of Outfront Media stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.54, for a total value of $1,883,200.00. Following the transaction, the chief executive officer now owns 392,703 shares in the company, valued at $9,244,228.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is currently owned by company insiders.
Shares of NYSE:OUT traded down $0.11 during midday trading on Wednesday, reaching $23.81. The company’s stock had a trading volume of 17,101 shares, compared to its average volume of 891,286. The company has a market cap of $3.36 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.45 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.88. Outfront Media Inc has a 1 year low of $16.81 and a 1 year high of $24.14.
Outfront Media (NYSE:OUT) last issued its earnings results on Tuesday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. Outfront Media had a return on equity of 9.45% and a net margin of 6.72%. The firm had revenue of $452.40 million for the quarter, compared to analysts’ expectations of $446.18 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts expect that Outfront Media Inc will post 2.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date was Thursday, March 7th. Outfront Media’s payout ratio is currently 66.98%.
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Outfront Media Company Profile
OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.
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