Handelsbanken Fonder AB boosted its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT – Free Report) by 45.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 66,918 shares of the financial services provider’s stock after buying an additional 20,800 shares during the period. Handelsbanken Fonder AB’s holdings in OUTFRONT Media were worth $1,613,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in OUT. Advisory Services Network LLC bought a new stake in OUTFRONT Media during the third quarter valued at $29,000. Farther Finance Advisors LLC boosted its stake 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 valued at $56,000 after buying an additional 1,431 shares during the period. IFP Advisors Inc boosted its stake in OUTFRONT Media by 16.5% during the third quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock valued at $78,000 after buying an additional 582 shares during the period. State of Wyoming boosted its stake in OUTFRONT Media by 155.5% during the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock valued at $130,000 after buying an additional 4,853 shares during the period. Finally, Rossby Financial LCC boosted its stake in OUTFRONT Media by 14.2% during the third quarter. Rossby Financial LCC now owns 7,942 shares of the financial services provider’s stock valued at $144,000 after buying an additional 989 shares during the period.
Insider Activity
In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,271 shares of OUTFRONT Media stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $26.93, for a total transaction of $303,528.03. Following the completion of the sale, the director owned 36,244 shares of the company’s stock, valued at $976,050.92. The trade was a 23.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Matthew Siegel sold 50,000 shares of OUTFRONT Media stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $25.79, for a total value of $1,289,500.00. Following the sale, the executive vice president directly owned 289,925 shares of the company’s stock, valued at approximately $7,477,165.75. This trade represents a 14.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.47% of the company’s stock.
OUTFRONT Media Trading Down 0.1%
OUTFRONT Media (NYSE:OUT – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $429.60 million during the quarter, compared to analyst estimates of $431.44 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that OUTFRONT Media Inc. will post 2.08 EPS for the current fiscal year.
OUTFRONT Media Announces Dividend
The company also recently declared 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. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.20 annualized dividend and a yield of 3.6%. OUTFRONT Media’s payout ratio is 114.29%.
Analyst Ratings Changes
OUT has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on OUTFRONT Media from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. TD Cowen reissued a “buy” rating and set a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Zacks Research lowered OUTFRONT Media from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Barrington Research set a $38.00 price objective on OUTFRONT Media in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 17th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.71.
View Our Latest Stock Analysis on OUTFRONT Media
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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