ProShare Advisors LLC Sells 2,770 Shares of OUTFRONT Media Inc. $OUT

ProShare Advisors LLC lessened its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,100 shares of the financial services provider’s stock after selling 2,770 shares during the period. ProShare Advisors LLC’s holdings in OUTFRONT Media were worth $508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SVB Wealth LLC bought a new stake in shares of OUTFRONT Media in the first quarter valued at about $28,000. Caitong International Asset Management Co. Ltd raised its position in OUTFRONT Media by 158.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,041 shares during the last quarter. IFP Advisors Inc raised its position in OUTFRONT Media by 97.6% in the 1st quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider’s stock valued at $113,000 after buying an additional 3,313 shares during the last quarter. Rossby Financial LCC lifted its stake in OUTFRONT Media by 42.4% in the 2nd 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. Finally, GAMMA Investing LLC boosted its position in OUTFRONT Media by 113.7% during the 2nd quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 4,238 shares during the last quarter.

OUTFRONT Media Stock Performance

Shares of OUT stock opened at $22.07 on Thursday. The company has a fifty day moving average price of $18.65 and a two-hundred day moving average price of $17.69. OUTFRONT Media Inc. has a one year low of $12.95 and a one year high of $22.70. The stock has a market cap of $3.69 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.26 and a beta of 1.82. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79.

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

OUTFRONT Media Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, December 5th. OUTFRONT Media’s payout ratio is currently 176.47%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OUT. Barrington Research reiterated an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a report on Friday, November 7th. TD Cowen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, November 11th. JPMorgan Chase & Co. raised shares of OUTFRONT Media from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $19.00 to $25.00 in a research report on Wednesday, November 12th. Wall Street Zen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Finally, New Street Research set a $24.00 price objective on OUTFRONT Media in a report on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Insider Activity at OUTFRONT Media

In related news, EVP Mark Emilio Bonanni sold 4,126 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total transaction of $79,961.88. Following the transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction on 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 completion of the sale, the insider owned 8,913,813 shares in the company, valued at approximately $160,983,462.78. This trade represents 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.

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.