Peregrine Capital Management LLC Lowers Stock Position in OUTFRONT Media Inc. $OUT

Peregrine Capital Management LLC lessened its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 24.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 184,548 shares of the financial services provider’s stock after selling 59,853 shares during the quarter. Peregrine Capital Management LLC’s holdings in OUTFRONT Media were worth $4,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OUT. GRS Advisors LLC raised its position in shares of OUTFRONT Media by 12.8% in the third quarter. GRS Advisors LLC now owns 2,468,232 shares of the financial services provider’s stock worth $45,218,000 after acquiring an additional 279,326 shares during the period. Burney Co. acquired a new stake in shares of OUTFRONT Media during the 4th quarter valued at about $735,000. Polar Asset Management Partners Inc. acquired a new stake in shares of OUTFRONT Media during the 3rd quarter valued at about $5,622,000. BTC Capital Management Inc. purchased a new position in shares of OUTFRONT Media in the 4th quarter valued at about $3,625,000. Finally, Pensionfund PDN purchased a new position in shares of OUTFRONT Media in the 4th quarter valued at about $1,027,000.

OUTFRONT Media Trading Up 0.4%

Shares of OUTFRONT Media stock opened at $32.89 on Thursday. The firm has a market capitalization of $5.79 billion, a PE ratio of 31.33, a P/E/G ratio of 1.55 and a beta of 1.49. OUTFRONT Media Inc. has a twelve month low of $16.48 and a twelve month high of $34.96. The firm’s 50-day moving average price is $31.72 and its 200 day moving average price is $28.07. 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 (NYSE:OUT) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. The company had revenue of $429.60 million during the quarter, compared to analyst estimates of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.OUTFRONT Media’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. On average, sell-side analysts predict that OUTFRONT Media Inc. will post 2.12 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were issued a $0.30 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a yield of 3.6%. OUTFRONT Media’s dividend payout ratio (DPR) is presently 114.29%.

Insiders Place Their Bets

In other news, EVP Richard H. Sauer sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the completion of the sale, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Michael Norton purchased 4,130 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the purchase, the executive vice president owned 4,130 shares of the company’s stock, valued at approximately $127,245.30. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 20,000 shares of company stock worth $629,600 in the last 90 days. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen reiterated a “buy” rating and set a $38.00 price target (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a research report on Friday, May 8th. Wall Street Zen cut shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Barrington Research set a $38.00 price target on shares of OUTFRONT Media in a report on Tuesday, May 12th. 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, OUTFRONT Media presently has an average rating of “Moderate Buy” and a consensus price target of $30.71.

OUTFRONT Media 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.