Robeco Institutional Asset Management B.V. increased its stake in OUTFRONT Media Inc. (NYSE:OUT – Free Report) by 321.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,519 shares of the financial services provider’s stock after purchasing an additional 27,844 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in OUTFRONT Media were worth $1,013,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in OUTFRONT Media by 25.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,423 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 8,817 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its stake in shares of OUTFRONT Media by 0.6% in the third quarter. ZWJ Investment Counsel Inc. now owns 639,155 shares of the financial services provider’s stock worth $17,737,000 after buying an additional 3,725 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of OUTFRONT Media by 5.3% during the 3rd quarter. GAMMA Investing LLC now owns 10,578 shares of the financial services provider’s stock worth $294,000 after buying an additional 530 shares during the period. Engineers Gate Manager LP bought a new stake in shares of OUTFRONT Media during the 2nd quarter worth $1,657,000. Finally, Arizona State Retirement System grew its stake in OUTFRONT Media by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 42,505 shares of the financial services provider’s stock valued at $1,392,000 after buying an additional 1,178 shares during the last quarter.
OUTFRONT Media Stock Performance
NYSE OUT opened at $31.74 on Tuesday. The company’s fifty day moving average is $29.35 and its two-hundred day moving average is $29.36. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 22.83 and a beta of 1.53. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.67 and a quick ratio of 0.67. OUTFRONT Media Inc. has a 52-week low of $16.97 and a 52-week high of $34.96.
OUTFRONT Media (NYSE:OUT – Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.30. OUTFRONT Media had a net margin of 12.66% and a return on equity of 37.44%. The business had revenue of $522.50 million during the quarter, compared to analysts’ expectations of $509.61 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Equities research analysts forecast that OUTFRONT Media Inc. will post 2.18 EPS for the current year.
OUTFRONT Media Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th were given a dividend of $0.33 per share. This is a boost from OUTFRONT Media’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, September 4th. OUTFRONT Media’s dividend payout ratio (DPR) is presently 94.96%.
Wall Street Analyst Weigh In
Several research analysts recently commented on OUT shares. Wall Street Zen downgraded shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 26th. Wells Fargo & Company boosted their price objective on OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citigroup reissued a “buy” rating on shares of OUTFRONT Media in a research report on Tuesday, September 8th. TD Cowen restated a “buy” rating and set a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $38.00 price target 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 issued a Hold rating to the company. According to data from MarketBeat.com, OUTFRONT Media presently has an average rating of “Moderate Buy” and an average price target of $34.00.
Read Our Latest Research Report on OUTFRONT Media
Insider Buying and Selling at OUTFRONT Media
In other OUTFRONT Media news, EVP Matthew Siegel sold 25,000 shares of OUTFRONT Media stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $27.84, for a total transaction of $696,000.00. Following the sale, the executive vice president directly owned 264,925 shares of the company’s stock, valued at approximately $7,375,512. The trade was a 8.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Emilio Bonanni sold 3,385 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 10,420 shares in the company, valued at approximately $310,724.40. This represents a 24.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.45% of the company’s stock.
OUTFRONT Media Profile
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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