DigitalBridge Group Inc. Reduces Stock Holdings in OUTFRONT Media Inc. $OUT

DigitalBridge Group Inc. lessened its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 40.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 969,208 shares of the financial services provider’s stock after selling 663,033 shares during the period. OUTFRONT Media makes up 1.5% of DigitalBridge Group Inc.’s holdings, making the stock its 25th biggest position. DigitalBridge Group Inc. owned approximately 0.58% of OUTFRONT Media worth $15,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SVB Wealth LLC acquired a new stake in OUTFRONT Media during the 1st quarter worth about $28,000. Caitong International Asset Management Co. Ltd grew its holdings in OUTFRONT Media by 158.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,041 shares during the period. Rossby Financial LCC raised its position in OUTFRONT Media by 42.4% during the second quarter. Rossby Financial LCC now owns 6,953 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,071 shares in the last quarter. GAMMA Investing LLC raised its position in OUTFRONT Media by 113.7% during the second quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 4,238 shares in the last quarter. Finally, EMC Capital Management acquired a new position in OUTFRONT Media in the second quarter valued at approximately $174,000.

Insiders Place Their Bets

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,270 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $22.18, for a total value of $249,968.60. Following the transaction, the director directly owned 58,786 shares of the company’s stock, valued at $1,303,873.48. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by company insiders.

OUTFRONT Media Stock Performance

NYSE OUT opened at $23.32 on Thursday. OUTFRONT Media Inc. has a 1-year low of $12.95 and a 1-year high of $23.57. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $19.51 and its 200-day simple moving average is $18.19. The company has a market cap of $3.90 billion, a PE ratio of 34.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.57.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). The business had revenue of $467.50 million during the quarter, compared to analyst estimates of $458.32 million. OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. OUTFRONT Media’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. As a group, equities research analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be issued a $0.30 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 5.1%. OUTFRONT Media’s dividend payout ratio is presently 176.47%.

Analyst Ratings Changes

OUT has been the subject of several recent research reports. Wall Street Zen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. New Street Research set a $24.00 price objective on shares of OUTFRONT Media in a report on Tuesday, November 11th. Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Tuesday, November 11th. Morgan Stanley raised their target price on OUTFRONT Media from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Finally, JPMorgan Chase & Co. upgraded OUTFRONT Media from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $25.00 in a research note on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.00.

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.