MQS Management LLC Buys Shares of 14,326 OUTFRONT Media Inc. $OUT

MQS Management LLC bought a new stake in OUTFRONT Media Inc. (NYSE:OUT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,326 shares of the financial services provider’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its stake in OUTFRONT Media by 8.5% in the first quarter. Signaturefd LLC now owns 9,203 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 722 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of OUTFRONT Media by 1.8% in the second quarter. Maryland State Retirement & Pension System now owns 40,753 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 740 shares during the period. Yousif Capital Management LLC raised its position in shares of OUTFRONT Media by 1.6% in the second quarter. Yousif Capital Management LLC now owns 51,633 shares of the financial services provider’s stock valued at $843,000 after purchasing an additional 791 shares during the period. Asset Management One Co. Ltd. raised its position in shares of OUTFRONT Media by 0.5% in the second quarter. Asset Management One Co. Ltd. now owns 200,228 shares of the financial services provider’s stock valued at $3,268,000 after purchasing an additional 910 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of OUTFRONT Media by 0.4% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 212,014 shares of the financial services provider’s stock valued at $3,422,000 after purchasing an additional 915 shares during the period.

Analysts Set New Price Targets

Several research firms have recently issued reports on OUT. Morgan Stanley boosted their price target on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Barrington Research reissued an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a research report on Tuesday, September 23rd. Wells Fargo & Company reissued an “overweight” rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Finally, Wall Street Zen raised shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Insiders Place Their Bets

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the transaction, the executive vice president owned 4,170 shares of the company’s stock, valued at $80,814.60. This represents a 49.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the completion of the transaction, the insider directly owned 8,913,813 shares in the company, valued at $160,983,462.78. The trade was a 48.52% decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Stock Performance

OUTFRONT Media stock opened at $17.83 on Tuesday. The firm’s 50 day simple moving average is $18.38 and its 200 day simple moving average is $17.12. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60. The firm has a market capitalization of $2.98 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 1.05 and a beta of 1.84. OUTFRONT Media Inc. has a 1-year low of $12.95 and a 1-year high of $19.80.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $460.20 million for the quarter, compared to analyst estimates of $463.16 million. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, analysts expect that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.7%. OUTFRONT Media’s dividend payout ratio is presently 206.90%.

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.