Hsbc Holdings PLC Has $2 Million Stock Position in OUTFRONT Media Inc. $OUT

Hsbc Holdings PLC lowered its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 55.0% in the first quarter, HoldingsChannel reports. The fund owned 76,643 shares of the financial services provider’s stock after selling 93,795 shares during the period. Hsbc Holdings PLC’s holdings in OUTFRONT Media were worth $1,998,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. boosted its holdings in OUTFRONT Media by 6.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 64,544 shares of the financial services provider’s stock valued at $1,661,000 after acquiring an additional 3,843 shares during the last quarter. Abel Hall LLC raised its holdings in OUTFRONT Media by 5.9% during the 1st quarter. Abel Hall LLC now owns 16,518 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 926 shares during the last quarter. HB Wealth Management LLC bought a new stake in OUTFRONT Media during the 1st quarter worth about $238,000. First Dallas Securities Inc. acquired a new position in OUTFRONT Media during the 1st quarter valued at about $225,000. Finally, New York State Teachers Retirement System lifted its position in OUTFRONT Media by 9.8% during the 1st quarter. New York State Teachers Retirement System now owns 103,794 shares of the financial services provider’s stock valued at $2,751,000 after purchasing an additional 9,270 shares during the period.

Insider Buying and Selling

In other news, EVP James Michael Norton acquired 4,130 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $30.81 per share, with a total value of $127,245.30. Following the transaction, the executive vice president directly owned 4,130 shares in the company, valued at approximately $127,245.30. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the transaction, the executive vice president owned 56,947 shares in the company, valued at $1,826,859.76. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 20,000 shares of company stock worth $629,600. Company insiders own 0.45% of the company’s stock.

OUTFRONT Media Trading Down 0.2%

OUT opened at $31.97 on Monday. The stock has a market capitalization of $5.63 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.52 and a beta of 1.48. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. OUTFRONT Media Inc. has a 12 month low of $16.64 and a 12 month high of $34.96. The firm’s fifty day simple moving average is $32.23 and its 200 day simple moving average is $29.12.

OUTFRONT Media (NYSE:OUT) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The firm had revenue of $429.60 million during the quarter, compared to analysts’ expectations of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 2.11 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. OUTFRONT Media’s payout ratio is currently 114.29%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barrington Research set a $38.00 target price on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Morgan Stanley set a $37.00 price objective on shares of OUTFRONT Media in a report on Friday, May 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. Finally, TD Cowen reaffirmed a “buy” rating and set a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.57.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.