Rossby Financial LCC Boosts Stake in OUTFRONT Media Inc. $OUT

Rossby Financial LCC grew its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 42.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,953 shares of the financial services provider’s stock after buying an additional 2,071 shares during the quarter. Rossby Financial LCC’s holdings in OUTFRONT Media were worth $113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OUT. Advisors Capital Management LLC bought a new position in shares of OUTFRONT Media during the 1st quarter valued at $22,330,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of OUTFRONT Media during the 1st quarter valued at $14,177,000. Boothbay Fund Management LLC bought a new position in shares of OUTFRONT Media during the 1st quarter valued at $11,388,000. Invesco Ltd. grew its holdings in shares of OUTFRONT Media by 7.6% during the 1st 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 during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of OUTFRONT Media by 9.9% during the 1st 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 during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Barrington Research reaffirmed an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a report on Tuesday, September 23rd. Finally, Morgan Stanley increased their target price on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

OUTFRONT Media Price Performance

Shares of OUTFRONT Media stock opened at $17.05 on Thursday. The firm has a market cap of $2.85 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 1.03 and a beta of 1.84. OUTFRONT Media Inc. has a 12-month low of $12.95 and a 12-month high of $19.80. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.60. The company’s fifty day simple moving average is $18.31 and its two-hundred day simple moving average is $17.16.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $460.20 million for the quarter, compared to analyst estimates of $463.16 million. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. As a group, equities analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.0%. OUTFRONT Media’s payout ratio is presently 206.90%.

Insider Transactions at OUTFRONT Media

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of OUTFRONT Media stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.38, for a total transaction of $79,961.88. Following the sale, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction dated Wednesday, September 3rd. The shares were 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 $160,983,462.78. The trade was a 48.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.47% of the company’s stock.

About OUTFRONT Media

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.