87,067 Shares in OUTFRONT Media Inc. $OUT Bought by Gabelli Funds LLC

Gabelli Funds LLC bought a new position in OUTFRONT Media Inc. (NYSE:OUT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 87,067 shares of the financial services provider’s stock, valued at approximately $1,405,000. Gabelli Funds LLC owned approximately 0.05% of OUTFRONT Media as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Keeley Teton Advisors LLC bought a new stake in OUTFRONT Media in the first quarter worth $5,048,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in OUTFRONT Media in the first quarter worth $2,078,000. Virtus Advisers LLC lifted its stake in OUTFRONT Media by 73.6% in the first quarter. Virtus Advisers LLC now owns 16,821 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 7,130 shares during the last quarter. Anson Funds Management LP bought a new stake in OUTFRONT Media in the first quarter worth $1,049,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in OUTFRONT Media in the first quarter worth $1,619,000.

Insider Activity

In related news, EVP Richard H. Sauer sold 29,891 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $471,978.89. Following the transaction, the executive vice president owned 90,945 shares in the company, valued at $1,436,021.55. The trade was a 24.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.38, for a total transaction of $79,961.88. Following the transaction, the executive vice president owned 4,170 shares in the company, valued at $80,814.60. This represents a 49.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,126 shares of company stock worth $871,272 in the last quarter. 0.47% of the stock is owned by corporate insiders.

OUTFRONT Media Stock Performance

Shares of NYSE:OUT opened at $18.68 on Friday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.89. The company has a 50-day moving average price of $17.70 and a 200-day moving average price of $16.72. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.80.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The firm had revenue of $460.20 million during the quarter, compared to the consensus estimate of $463.16 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, September 5th. This represents a $1.20 annualized dividend and a dividend yield of 6.4%. OUTFRONT Media’s payout ratio is currently 206.90%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wall Street Zen raised shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Barrington Research reissued an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, August 6th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of OUTFRONT Media in a research note on Sunday, July 20th. Citigroup reaffirmed a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of OUTFRONT Media from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, May 21st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.