JPMorgan Chase & Co. Trims Stock Position in OUTFRONT Media Inc. $OUT

JPMorgan Chase & Co. lessened its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 10.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 866,678 shares of the financial services provider’s stock after selling 98,799 shares during the period. JPMorgan Chase & Co.’s holdings in OUTFRONT Media were worth $14,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in OUT. Maryland State Retirement & Pension System raised its position in OUTFRONT Media by 1.8% in the second quarter. Maryland State Retirement & Pension System now owns 40,753 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 740 shares during the period. Bank of Montreal Can grew its position in shares of OUTFRONT Media by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 36,066 shares of the financial services provider’s stock valued at $589,000 after acquiring an additional 758 shares during the period. Yousif Capital Management LLC grew its position in shares of OUTFRONT Media by 1.6% during the 2nd quarter. Yousif Capital Management LLC now owns 51,633 shares of the financial services provider’s stock valued at $843,000 after acquiring an additional 791 shares during the period. Assetmark Inc. increased its stake in shares of OUTFRONT Media by 2.2% in the 2nd quarter. Assetmark Inc. now owns 42,908 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 909 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of OUTFRONT Media by 0.5% in the 2nd quarter. Asset Management One Co. Ltd. now owns 200,228 shares of the financial services provider’s stock worth $3,268,000 after purchasing an additional 910 shares in the last quarter.

Insiders Place Their Bets

In related news, Director Manuel A. Diaz sold 11,270 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $22.18, for a total transaction of $249,968.60. Following the sale, the director owned 58,786 shares of the company’s stock, valued at $1,303,873.48. This represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.47% of the company’s stock.

OUTFRONT Media Trading Down 0.1%

Shares of OUTFRONT Media stock opened at $23.28 on Friday. OUTFRONT Media Inc. has a twelve month low of $12.95 and a twelve month high of $23.57. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 4.75. The business has a 50-day moving average price of $19.71 and a 200-day moving average price of $18.29. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.31 and a beta of 1.57.

OUTFRONT Media (NYSE:OUT) last announced 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 6.86% and a return on equity of 21.56%. The firm 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 posted $0.19 earnings per share. OUTFRONT Media’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts anticipate that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued 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 dividend yield of 5.2%. OUTFRONT Media’s dividend payout ratio (DPR) is 176.47%.

Wall Street Analysts Forecast Growth

OUT has been the topic of several analyst reports. Citigroup reiterated a “buy” rating and set a $23.00 target price (up from $20.00) on shares of OUTFRONT Media in a research report on Wednesday, November 12th. JPMorgan Chase & Co. raised OUTFRONT Media from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $25.00 in a research note on Wednesday, November 12th. TD Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, November 11th. Cowen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Tuesday, November 11th. Finally, Barrington Research restated an “outperform” rating and set a $21.00 target price on shares of OUTFRONT Media in a research note on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

OUTFRONT Media 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.