Provenance Wealth Advisors LLC acquired a new position in shares of OUTFRONT Media Inc. (NYSE:OUT – Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 25,348 shares of the financial services provider’s stock, valued at approximately $703,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont acquired a new position in shares of OUTFRONT Media in the second quarter valued at approximately $34,000. EverSource Wealth Advisors LLC raised its stake in shares of OUTFRONT Media by 74.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 686 shares during the last quarter. TOP Private Wealth LLC. acquired a new stake in shares of OUTFRONT Media during the second quarter worth $72,000. Nykredit A S acquired a new stake in shares of OUTFRONT Media during the second quarter worth $84,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of OUTFRONT Media by 839.2% during the third quarter. Sterling Capital Management LLC now owns 5,325 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 4,758 shares during the period.
Insider Activity
In related news, EVP Matthew Siegel sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $27.84, for a total value of $696,000.00. Following the sale, the executive vice president owned 264,925 shares of the company’s stock, valued at approximately $7,375,512. This represents a 8.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Emilio Bonanni sold 3,385 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $29.82, for a total value of $100,940.70. Following the sale, the executive vice president directly owned 10,420 shares in the company, valued at approximately $310,724.40. The trade was a 24.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.45% of the stock is owned by corporate insiders.
Analyst Ratings Changes
OUT has been the topic of a number of analyst reports. Wall Street Zen lowered shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. TD Cowen restated a “buy” rating and set a $40.00 price objective (up from $38.00) on shares of OUTFRONT Media in a research report on Thursday, August 6th. Citigroup restated a “buy” rating on shares of OUTFRONT Media in a research note on Tuesday, September 8th. Wells Fargo & Company raised their target price on shares of OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. began coverage on shares of OUTFRONT Media in a report on Wednesday, July 22nd. They issued an “overweight” rating and a $38.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.
Read Our Latest Stock Analysis on OUT
OUTFRONT Media Stock Up 0.2%
OUT opened at $32.41 on Thursday. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day simple moving average of $29.63 and a 200-day simple moving average of $29.64. The stock has a market capitalization of $5.71 billion, a P/E ratio of 23.32 and a beta of 1.56. OUTFRONT Media Inc. has a 12 month low of $17.40 and a 12 month high of $34.96.
OUTFRONT Media (NYSE:OUT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.38 by $0.30. The firm had revenue of $522.50 million during the quarter, compared to analysts’ expectations of $509.61 million. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. On average, equities analysts anticipate that OUTFRONT Media Inc. will post 2.18 earnings per share for the current fiscal year.
About OUTFRONT Media
OUTFRONT Media Inc (NYSE: OUT) is an out-of-home media company that provides advertising services through a portfolio of billboard, transit and other outdoor advertising assets. The company helps advertisers reach consumers in high-traffic locations, including roads, urban centers, public transportation systems and other public spaces.
Its offerings include traditional printed billboards, digital billboards, transit displays and place-based media. OUTFRONT also provides related services such as media planning, creative support, audience analytics and technology-enabled advertising solutions, including digital and programmatic buying capabilities.
OUTFRONT primarily serves advertisers across the United States and Canada.
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