First Eagle Investment Management LLC Sells 23,600 Shares of OUTFRONT Media Inc. $OUT

First Eagle Investment Management LLC lowered its position in OUTFRONT Media Inc. (NYSE:OUT) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 804,035 shares of the financial services provider’s stock after selling 23,600 shares during the quarter. First Eagle Investment Management LLC’s holdings in OUTFRONT Media were worth $13,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Signaturefd LLC lifted its holdings in shares of OUTFRONT Media by 8.5% in the 1st quarter. Signaturefd LLC now owns 9,203 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 722 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of OUTFRONT Media by 1.8% during the 2nd quarter. Maryland State Retirement & Pension System now owns 40,753 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 740 shares during the last quarter. Bank of Montreal Can raised its position in OUTFRONT Media by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 36,066 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 758 shares during the period. Yousif Capital Management LLC raised its position in OUTFRONT Media by 1.6% in the 2nd quarter. Yousif Capital Management LLC now owns 51,633 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 791 shares during the period. Finally, Assetmark Inc. lifted its stake in OUTFRONT Media by 2.2% in the second quarter. Assetmark Inc. now owns 42,908 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 909 shares during the last quarter.

Insider Buying and Selling at OUTFRONT Media

In other news, EVP Mark Emilio Bonanni sold 4,126 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $19.38, for a total value of $79,961.88. Following the completion of the sale, the executive vice president directly owned 4,170 shares of the company’s stock, valued at approximately $80,814.60. This trade represents a 49.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media 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 sale, the insider directly owned 8,913,813 shares in the company, valued at $160,983,462.78. The trade was a 48.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

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

OUTFRONT Media Stock Performance

OUTFRONT Media stock opened at $17.60 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.60. The firm has a market cap of $2.94 billion, a P/E ratio of 30.10, a P/E/G ratio of 1.03 and a beta of 1.82. OUTFRONT Media Inc. has a 1-year low of $12.95 and a 1-year high of $19.80. The firm has a 50-day moving average of $18.16 and a 200-day moving average of $17.28.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The business had revenue of $467.50 million for the quarter, compared to the consensus estimate of $458.32 million. During the same period in the previous year, the company earned $0.19 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 6.8%. OUTFRONT Media’s dividend payout ratio (DPR) is presently 206.90%.

About OUTFRONT Media

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.