Allianz Asset Management GmbH Has $6.10 Million Holdings in OUTFRONT Media Inc. $OUT

Allianz Asset Management GmbH lessened its stake in OUTFRONT Media Inc. (NYSE:OUT) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,846 shares of the financial services provider’s stock after selling 4,385 shares during the quarter. Allianz Asset Management GmbH owned 0.22% of OUTFRONT Media worth $6,101,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in OUT. Advisors Capital Management LLC acquired a new position in OUTFRONT Media during the first quarter worth $22,330,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in OUTFRONT Media during the first quarter worth $14,177,000. Boothbay Fund Management LLC acquired a new position in OUTFRONT Media during the first quarter worth $11,388,000. Invesco Ltd. boosted its holdings in OUTFRONT Media by 7.6% during the first quarter. Invesco Ltd. now owns 7,836,183 shares of the financial services provider’s stock worth $126,476,000 after purchasing an additional 555,568 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in 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 worth $80,393,000 after purchasing an additional 448,993 shares during the last quarter.

Analyst Ratings Changes

OUT has been the subject of several recent research reports. Barrington Research restated an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company restated an “overweight” rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Finally, Morgan Stanley increased their target price on shares of OUTFRONT Media from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, OUTFRONT Media presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Insider Activity

In other news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total value of $151,704,000.00. Following the transaction, the insider directly owned 8,913,813 shares of the company’s stock, valued at $160,983,462.78. This represents a 48.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the 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 completion of the transaction, the executive vice president directly owned 4,170 shares in the company, valued at $80,814.60. The trade was a 49.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Stock Performance

Shares of OUT stock opened at $18.33 on Thursday. The stock has a market cap of $3.06 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.08 and a beta of 1.84. The company has a debt-to-equity ratio of 4.60, a current ratio of 0.61 and a quick ratio of 0.61. The company has a fifty day moving average price of $18.42 and a two-hundred day moving average price of $17.00. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $19.80.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $460.20 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 earnings per share. As a group, equities analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.20 annualized dividend and a dividend yield of 6.5%. OUTFRONT Media’s dividend payout ratio is presently 206.90%.

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.