Pacific Heights Asset Management LLC Raises Stock Holdings in OUTFRONT Media Inc. $OUT

Pacific Heights Asset Management LLC raised its stake in OUTFRONT Media Inc. (NYSE:OUT) by 40.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 700,000 shares of the financial services provider’s stock after buying an additional 200,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in OUTFRONT Media were worth $12,824,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA purchased a new stake in shares of OUTFRONT Media during the third quarter valued at about $33,000. Rossby Financial LCC raised its stake in shares of OUTFRONT Media by 42.4% during the 2nd quarter. Rossby Financial LCC now owns 6,953 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,071 shares in the last quarter. GAMMA Investing LLC lifted its position in OUTFRONT Media by 113.7% during the second quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 4,238 shares during the last quarter. State of Wyoming boosted its stake in OUTFRONT Media by 155.5% in the second quarter. State of Wyoming now owns 7,973 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 4,853 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in OUTFRONT Media by 45.4% in the second quarter. Osaic Holdings Inc. now owns 9,126 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 2,851 shares in the last quarter.

OUTFRONT Media Stock Performance

Shares of OUT stock opened at $25.23 on Tuesday. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $25.25. 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 stock has a market cap of $4.22 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 1.26 and a beta of 1.57. The business has a 50-day simple moving average of $23.51 and a 200-day simple moving average of $20.02.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.21). OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The company had revenue of $467.50 million for the quarter, compared to analysts’ expectations of $458.32 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, December 5th. OUTFRONT Media’s payout ratio is 176.47%.

Insider Activity

In related news, Director Manuel A. Diaz sold 11,270 shares of the 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 directly owned 58,786 shares of the company’s stock, valued at approximately $1,303,873.48. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OUT shares. Wall Street Zen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Cowen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Tuesday, November 11th. New Street Research set a $24.00 price objective on shares of OUTFRONT Media in a report on Tuesday, November 11th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $27.00 price objective (up from $23.00) on shares of OUTFRONT Media in a research report on Thursday, December 18th. Finally, Morgan Stanley raised shares of OUTFRONT Media from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $28.00 in a research report on Tuesday, December 16th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $24.57.

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.