Provenance Wealth Advisors LLC Acquires New Stake in OUTFRONT Media Inc. $OUT

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

(Free Report)

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.

See Also

Institutional Ownership by Quarter for OUTFRONT Media (NYSE:OUT)

Receive News & Ratings for OUTFRONT Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OUTFRONT Media and related companies with MarketBeat.com's FREE daily email newsletter.