Lazard Asset Management LLC bought a new position in OUTFRONT Media Inc. (NYSE:OUT – Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 75,750 shares of the financial services provider’s stock, valued at approximately $2,007,000.
Other large investors have also added to or reduced their stakes in the company. Entropy Technologies LP boosted its stake in OUTFRONT Media by 53.3% during the 1st quarter. Entropy Technologies LP now owns 16,939 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 5,889 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of OUTFRONT Media in the first quarter worth approximately $2,136,000. Renaissance Technologies LLC lifted its holdings in shares of OUTFRONT Media by 615.1% in the first quarter. Renaissance Technologies LLC now owns 285,667 shares of the financial services provider’s stock valued at $7,570,000 after purchasing an additional 245,721 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of OUTFRONT Media by 0.7% in the first quarter. Gamco Investors INC. ET AL now owns 51,648 shares of the financial services provider’s stock valued at $1,369,000 after purchasing an additional 351 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of OUTFRONT Media by 215.9% during the first quarter. Public Employees Retirement System of Ohio now owns 171,417 shares of the financial services provider’s stock valued at $4,543,000 after buying an additional 117,154 shares during the last quarter.
Insider Buying and Selling at OUTFRONT Media
In related news, EVP Richard H. Sauer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total value of $160,400.00. Following the sale, the executive vice president directly owned 56,947 shares in the company, valued at approximately $1,826,859.76. The trade was a 8.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James Michael Norton acquired 4,130 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were 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 owned 4,130 shares of the company’s stock, valued at approximately $127,245.30. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 20,000 shares of company stock valued at $629,600 in the last quarter. 0.45% of the stock is owned by corporate insiders.
OUTFRONT Media Price Performance
OUTFRONT Media (NYSE:OUT – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The business had revenue of $429.60 million during the quarter, compared to analyst estimates of $431.44 million. During the same period in the prior year, the company earned $0.14 earnings per share. OUTFRONT Media’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that OUTFRONT Media Inc. will post 2.11 EPS for the current year.
OUTFRONT Media Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, June 5th. OUTFRONT Media’s dividend payout ratio is currently 114.29%.
Analysts Set New Price Targets
A number of research firms have issued reports on OUT. TD Cowen reaffirmed a “buy” rating and set a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Morgan Stanley set a $37.00 target price on shares of OUTFRONT Media in a report on Friday, May 8th. Barrington Research set a $38.00 price target on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Wall Street Zen cut shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, OUTFRONT Media presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.57.
View Our Latest Stock Analysis on OUT
OUTFRONT Media 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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