MQS Management LLC Purchases Shares of 14,326 OUTFRONT Media Inc. $OUT

MQS Management LLC purchased a new stake in OUTFRONT Media Inc. (NYSE:OUT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,326 shares of the financial services provider’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new stake in OUTFRONT Media in the first quarter valued at $28,000. Caitong International Asset Management Co. Ltd increased its stake in OUTFRONT Media by 158.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,041 shares in the last quarter. Rossby Financial LCC bought a new stake in OUTFRONT Media in the first quarter valued at $74,000. IFP Advisors Inc increased its stake in OUTFRONT Media by 97.6% in the first quarter. IFP Advisors Inc now owns 6,708 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 3,313 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in OUTFRONT Media by 113.7% in the second quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 4,238 shares in the last quarter.

OUTFRONT Media Stock Down 0.9%

OUTFRONT Media stock opened at $17.83 on Tuesday. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $19.80. The stock has a market cap of $2.98 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 1.05 and a beta of 1.84. The firm’s 50-day simple moving average is $18.38 and its 200 day simple moving average is $17.12. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.61 and a current ratio of 0.61.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share for the quarter, topping 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 business had revenue of $460.20 million for the quarter, compared to analysts’ expectations of $463.16 million. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 5th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, September 5th. This represents a $1.20 annualized dividend and a yield of 6.7%. OUTFRONT Media’s payout ratio is 206.90%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OUT shares. Barrington Research reiterated an “outperform” rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Tuesday, September 23rd. Morgan Stanley lifted their price objective on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company reiterated an “overweight” rating on shares of OUTFRONT Media in a report on Sunday, July 20th. Finally, Wall Street Zen upgraded shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, OUTFRONT Media presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Activity

In related news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total transaction of $151,704,000.00. Following the transaction, the insider directly owned 8,913,813 shares in the company, valued at approximately $160,983,462.78. The trade was a 48.52% 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. Also, EVP Mark Emilio Bonanni sold 4,126 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was 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 approximately $80,814.60. This trade represents a 49.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

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.