Vanguard Group Inc. Has $545.98 Million Holdings in OUTFRONT Media Inc. $OUT
by Jessica Moore · The Cerbat GemVanguard Group Inc. boosted its stake in OUTFRONT Media Inc. (NYSE:OUT – Free Report) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 22,654,899 shares of the financial services provider’s stock after purchasing an additional 1,131,954 shares during the quarter. Vanguard Group Inc. owned 0.14% of OUTFRONT Media worth $545,983,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC acquired a new position in OUTFRONT Media in the third quarter valued at about $29,000. Farther Finance Advisors LLC raised its stake in OUTFRONT Media by 157.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,431 shares in the last quarter. IFP Advisors Inc raised its stake in OUTFRONT Media by 16.5% in the third quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 582 shares in the last quarter. State of Wyoming raised its stake in OUTFRONT Media by 155.5% in the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 4,853 shares in the last quarter. Finally, Rossby Financial LCC raised its stake in OUTFRONT Media by 14.2% in the third quarter. Rossby Financial LCC now owns 7,942 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 989 shares in the last quarter.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Barrington Research lifted their target price on OUTFRONT Media from $27.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Wells Fargo & Company boosted their target price on OUTFRONT Media from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Zacks Research downgraded OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, TD Cowen boosted their target price on OUTFRONT Media from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.86.
Get Our Latest Stock Report on OUTFRONT Media
OUTFRONT Media Stock Down 2.4%
Shares of NYSE OUT opened at $30.95 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 3.63. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 38.69, a PEG ratio of 1.53 and a beta of 1.50. OUTFRONT Media Inc. has a 12 month low of $14.45 and a 12 month high of $31.89. The stock has a 50-day moving average price of $28.15 and a two-hundred day moving average price of $24.70.
OUTFRONT Media (NYSE:OUT – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.16). The firm had revenue of $513.30 million for the quarter, compared to the consensus estimate of $511.61 million. OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%. As a group, analysts forecast that OUTFRONT Media Inc. will post 2.07 earnings per share for the current fiscal year.
OUTFRONT Media Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, March 6th. OUTFRONT Media’s payout ratio is 150.00%.
Insider Activity
In other news, Director Manuel A. Diaz sold 11,271 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $26.93, for a total transaction of $303,528.03. Following the sale, the director directly owned 36,244 shares in the company, valued at approximately $976,050.92. The trade was a 23.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matthew Siegel sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $25.79, for a total value of $1,289,500.00. Following the sale, the executive vice president owned 289,925 shares in the company, valued at approximately $7,477,165.75. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.47% of the company’s stock.
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.
See Also
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