Hsbc Holdings PLC bought a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT – Free Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 170,438 shares of the financial services provider’s stock, valued at approximately $4,109,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OUT. Advisory Services Network LLC bought a new stake in shares of OUTFRONT Media in the third quarter valued at approximately $29,000. Farther Finance Advisors LLC increased its position in OUTFRONT Media by 157.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,431 shares during the period. Kestra Advisory Services LLC acquired a new position in OUTFRONT Media during the 4th quarter valued at $71,000. IFP Advisors Inc raised its stake in OUTFRONT Media by 16.5% during the 3rd quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 582 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in OUTFRONT Media by 224.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,853 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 5,432 shares during the period.
OUTFRONT Media Stock Up 4.8%
Shares of NYSE OUT opened at $33.16 on Friday. OUTFRONT Media Inc. has a 52-week low of $16.05 and a 52-week high of $34.96. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.82 and a current ratio of 0.82. The business has a fifty day moving average of $31.54 and a two-hundred day moving average of $27.84. The stock has a market cap of $5.84 billion, a PE ratio of 31.59, a PEG ratio of 1.57 and a beta of 1.49.
OUTFRONT Media Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, June 5th. OUTFRONT Media’s dividend payout ratio is currently 114.29%.
Insiders Place Their Bets
In other news, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the completion of the transaction, the executive vice president owned 56,947 shares in the company, valued at approximately $1,826,859.76. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Michael Norton bought 4,130 shares of OUTFRONT Media stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the acquisition, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 70,000 shares of company stock valued at $1,919,100. 0.47% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on OUT. Zacks Research downgraded shares of OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. TD Cowen reiterated a “buy” rating and issued a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Wall Street Zen cut shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Morgan Stanley set a $37.00 target price on OUTFRONT Media in a research report on Friday, May 8th. Finally, Barrington Research set a $38.00 price target on OUTFRONT Media in a research note on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.71.
Get Our Latest Research Report on OUT
OUTFRONT Media Company 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.
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