Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of OUTFRONT Media Inc. (NYSE:OUT – Free Report) during the first quarter, Holdings Channel reports. The fund bought 72,314 shares of the financial services provider’s stock, valued at approximately $1,916,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of OUTFRONT Media during the third quarter valued at $29,000. Farther Finance Advisors LLC grew its stake in shares of OUTFRONT Media by 157.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 1,431 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in OUTFRONT Media in the fourth quarter valued at $71,000. IFP Advisors Inc increased its holdings in OUTFRONT Media by 16.5% in the third 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 period. Finally, State of Wyoming raised its position in OUTFRONT Media by 155.5% during the 2nd quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 4,853 shares during the last quarter.
Wall Street Analysts Forecast Growth
OUT has been the topic of several recent research reports. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. TD Cowen reissued a “buy” rating and issued a $38.00 price target (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Barrington Research set a $38.00 price objective on OUTFRONT Media in a research report on Tuesday, May 12th. Finally, Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a research note on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.71.
OUTFRONT Media Stock Performance
Shares of OUT stock opened at $32.81 on Friday. The firm has a 50 day moving average of $31.83 and a 200-day moving average of $28.17. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.55 and a beta of 1.48. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90. OUTFRONT Media Inc. has a 52 week low of $16.64 and a 52 week high of $34.96.
OUTFRONT Media (NYSE:OUT – Get Free Report) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The company had revenue of $429.60 million for the quarter, compared to the consensus estimate of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. OUTFRONT Media’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. On average, equities analysts forecast that OUTFRONT Media Inc. will post 2.12 earnings per share for the current year.
OUTFRONT Media Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, June 5th. OUTFRONT Media’s payout ratio is 114.29%.
Insider Activity
In other news, EVP Richard H. Sauer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total transaction of $160,400.00. Following the transaction, the executive vice president owned 56,947 shares in the company, valued at approximately $1,826,859.76. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Michael Norton acquired 4,130 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the transaction, the executive vice president directly owned 4,130 shares in the company, valued at approximately $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. Insiders have sold 20,000 shares of company stock worth $629,600 in the last quarter. Company insiders own 0.47% of the company’s stock.
About OUTFRONT Media
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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