OUTFRONT Media Inc. $OUT Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in OUTFRONT Media Inc. (NYSE:OUT) by 16.0% in the 3rd quarter, Holdings Channel reports. The firm owned 116,043 shares of the financial services provider’s stock after selling 22,184 shares during the quarter. State of Alaska Department of Revenue’s holdings in OUTFRONT Media were worth $3,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of OUT. ZWJ Investment Counsel Inc. increased its holdings in OUTFRONT Media by 0.6% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 639,155 shares of the financial services provider’s stock valued at $17,737,000 after buying an additional 3,725 shares during the period. GAMMA Investing LLC raised its stake in shares of OUTFRONT Media by 5.3% in the 3rd quarter. GAMMA Investing LLC now owns 10,578 shares of the financial services provider’s stock valued at $294,000 after buying an additional 530 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of OUTFRONT Media in the 2nd quarter valued at $1,657,000. Arizona State Retirement System lifted its holdings in shares of OUTFRONT Media by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 42,505 shares of the financial services provider’s stock worth $1,392,000 after acquiring an additional 1,178 shares during the period. Finally, Nykredit A S bought a new position in shares of OUTFRONT Media during the 2nd quarter worth about $84,000.

Insiders Place Their Bets

In other OUTFRONT Media news, EVP Matthew Siegel sold 25,000 shares of OUTFRONT Media stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $27.84, for a total transaction of $696,000.00. Following the completion of the transaction, the executive vice president directly owned 264,925 shares of the company’s stock, valued at approximately $7,375,512. This trade represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Emilio Bonanni sold 3,385 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $29.82, for a total transaction of $100,940.70. Following the completion of the sale, the executive vice president owned 10,420 shares in the company, valued at $310,724.40. This represents a 24.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.45% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OUT shares. Wall Street Zen lowered shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Wells Fargo & Company upped their target price on shares of OUTFRONT Media from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. TD Cowen reissued a “buy” rating and issued a $40.00 price target (up from $38.00) on shares of OUTFRONT Media in a research report on Thursday, August 6th. Citigroup reissued a “buy” rating on shares of OUTFRONT Media in a research report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $38.00 price target on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, OUTFRONT Media presently has an average rating of “Moderate Buy” and an average target price of $34.00.

OUTFRONT Media Price Performance

OUTFRONT Media stock opened at $30.36 on Friday. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $5.35 billion, a PE ratio of 21.84 and a beta of 1.53. OUTFRONT Media Inc. has a one year low of $16.97 and a one year high of $34.96. The business has a 50 day simple moving average of $29.20 and a 200 day simple moving average of $30.59.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.38 by $0.30. OUTFRONT Media had a return on equity of 37.44% and a net margin of 12.66%. The business had revenue of $522.50 million for the quarter, compared to analyst estimates of $509.61 million. During the same quarter in the previous year, the firm earned $0.51 EPS. OUTFRONT Media’s quarterly revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts forecast that OUTFRONT Media Inc. will post 2.18 EPS for the current fiscal year.

OUTFRONT Media Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, September 4th. This is a boost from OUTFRONT Media’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.3%. OUTFRONT Media’s dividend payout ratio (DPR) is 94.96%.

OUTFRONT Media Profile

OUTFRONT Media Inc is an out-of-home advertising company that provides brands and agencies with advertising space across physical and digital displays. Its offerings include traditional and digital billboards, urban panels, street furniture, transit advertising, and other display formats designed to reach consumers in public spaces.

The company’s advertising inventory is used across major metropolitan areas and transportation systems in the United States. OUTFRONT combines its media assets with audience measurement, data and analytics, creative services, and digital advertising capabilities to help advertisers plan, deliver, and evaluate campaigns.

OUTFRONT Media was formed from the former CBS Outdoor Americas business and adopted its current name in 2014 following its separation from CBS Corporation.