Teachers Retirement System of The State of Kentucky Boosts Holdings in OUTFRONT Media Inc. $OUT

Teachers Retirement System of The State of Kentucky grew its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 199.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,420 shares of the financial services provider’s stock after purchasing an additional 72,891 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in OUTFRONT Media were worth $2,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Burney Co. bought a new stake in OUTFRONT Media during the 4th quarter valued at approximately $735,000. Polar Asset Management Partners Inc. purchased a new position in shares of OUTFRONT Media during the 3rd quarter worth approximately $5,622,000. BTC Capital Management Inc. bought a new position in shares of OUTFRONT Media in the 4th quarter worth approximately $3,625,000. Pensionfund PDN bought a new position in shares of OUTFRONT Media in the 4th quarter worth approximately $1,027,000. Finally, Vanguard Group Inc. lifted its stake in shares of OUTFRONT Media by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider’s stock valued at $545,983,000 after purchasing an additional 1,131,954 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. TD Cowen restated 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. Wall Street Zen lowered shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Morgan Stanley set a $37.00 price target on OUTFRONT Media in a research report on Friday, May 8th. Finally, Barrington Research set a $38.00 price target on OUTFRONT Media in a research note on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.71.

OUTFRONT Media Stock Up 0.0%

NYSE:OUT opened at $33.15 on Wednesday. The firm has a market cap of $5.84 billion, a P/E ratio of 31.57, a P/E/G ratio of 1.57 and a beta of 1.48. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.82 and a current ratio of 0.82. OUTFRONT Media Inc. has a fifty-two week low of $16.64 and a fifty-two week high of $34.96. The firm has a 50-day simple moving average of $32.20 and a two-hundred day simple moving average of $28.64.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.06. The business had revenue of $429.60 million during the quarter, compared to analysts’ expectations of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. Analysts predict that OUTFRONT Media Inc. will post 2.12 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

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

Insider Buying and Selling

In related news, EVP Richard H. Sauer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total value of $160,400.00. Following the transaction, the executive vice president directly owned 56,947 shares of the company’s stock, valued at approximately $1,826,859.76. This represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Michael Norton acquired 4,130 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $629,600. 0.47% of the stock is owned by company insiders.

About OUTFRONT Media

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.