Geode Capital Management LLC Raises Stake in OUTFRONT Media Inc. $OUT

Geode Capital Management LLC raised its stake in OUTFRONT Media Inc. (NYSE:OUT) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,738,362 shares of the financial services provider’s stock after buying an additional 127,117 shares during the quarter. Geode Capital Management LLC’s holdings in OUTFRONT Media were worth $90,106,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in OUTFRONT Media in the 3rd quarter valued at $29,000. Farther Finance Advisors LLC grew its holdings in OUTFRONT Media by 157.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,431 shares in the last quarter. IFP Advisors Inc grew its holdings in OUTFRONT Media by 16.5% in the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock valued at $78,000 after buying an additional 582 shares in the last quarter. State of Wyoming grew its holdings in OUTFRONT Media by 155.5% in the 2nd quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock valued at $130,000 after buying an additional 4,853 shares in the last quarter. Finally, Rossby Financial LCC grew its holdings in OUTFRONT Media by 14.2% in the 3rd quarter. Rossby Financial LCC now owns 7,942 shares of the financial services provider’s stock valued at $144,000 after buying an additional 989 shares in the last quarter.

OUTFRONT Media Price Performance

OUT stock opened at $31.16 on Monday. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $5.49 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.47 and a beta of 1.49. The business’s 50-day moving average is $30.43 and its two-hundred day moving average is $26.99. OUTFRONT Media Inc. has a 1 year low of $15.45 and a 1 year high of $34.96.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The company had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.OUTFRONT Media’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. Analysts anticipate that OUTFRONT Media Inc. will post 2.12 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given 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 yield of 3.9%. OUTFRONT Media’s dividend payout ratio (DPR) is currently 114.29%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OUT. Wells Fargo & Company upped their target price on OUTFRONT Media from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, February 27th. TD Cowen restated a “buy” rating and issued a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Morgan Stanley set a $37.00 price target on OUTFRONT Media in a research note on Friday, May 8th. Barrington Research set a $38.00 price target on OUTFRONT Media in a research note on Tuesday, May 12th. Finally, Zacks Research lowered OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, OUTFRONT Media currently has a consensus rating of “Moderate Buy” and an average price target of $30.71.

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, EVP Matthew Siegel sold 50,000 shares of the 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 of the company’s stock, valued at $7,477,165.75. This trade represents a 14.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel A. Diaz sold 11,271 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $26.93, for a total value of $303,528.03. Following the completion of the sale, the director directly owned 36,244 shares in the company, valued at $976,050.92. This represents a 23.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by company insiders.

OUTFRONT Media 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.