Advisory Services Network LLC raised its position in shares of Outfront Media Inc. (NYSE:OUT) by 33.0% during the second quarter, Holdings Channel reports. The fund owned 4,986 shares of the company’s stock after buying an additional 1,236 shares during the period. Advisory Services Network LLC’s holdings in Outfront Media were worth $121,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in OUT. Nisa Investment Advisors L.L.C. increased its stake in Outfront Media by 36.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 41,596 shares of the company’s stock worth $878,000 after buying an additional 11,000 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Outfront Media during the first quarter worth $241,000. TIAA CREF Investment Management LLC increased its stake in Outfront Media by 3.8% in the first quarter. TIAA CREF Investment Management LLC now owns 357,894 shares of the company’s stock worth $7,552,000 after buying an additional 12,958 shares during the last quarter. Teachers Advisors Inc. increased its stake in Outfront Media by 4.2% in the first quarter. Teachers Advisors Inc. now owns 114,788 shares of the company’s stock worth $2,422,000 after buying an additional 4,665 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Outfront Media during the first quarter worth $949,000.
Outfront Media Inc. (NYSE:OUT) traded down 0.04% during mid-day trading on Wednesday, hitting $22.22. 1,308,772 shares of the company’s stock were exchanged. Outfront Media Inc. has a 12 month low of $18.01 and a 12 month high of $24.44. The stock’s market cap is $3.07 billion. The stock’s 50 day moving average price is $22.54 and its 200-day moving average price is $22.54.
Outfront Media (NYSE:OUT) last released its earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.06. Outfront Media had a negative net margin of 1.74% and a negative return on equity of 2.13%. The company had revenue of $385.30 million for the quarter, compared to the consensus estimate of $380.11 million. During the same period in the prior year, the company earned $0.16 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Equities analysts expect that Outfront Media Inc. will post $0.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend was Wednesday, September 7th. Outfront Media’s dividend payout ratio is currently -679.97%.
A number of research analysts recently issued reports on OUT shares. Zacks Investment Research raised shares of Outfront Media from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Tuesday, June 28th. Wedbush started coverage on shares of Outfront Media in a research note on Thursday, July 21st. They issued a “neutral” rating and a $26.00 price objective on the stock. Gabelli started coverage on shares of Outfront Media in a research note on Friday, July 22nd. They issued a “hold” rating and a $29.00 price objective on the stock. Finally, Loop Capital started coverage on shares of Outfront Media in a research note on Monday, September 12th. They issued a “hold” rating and a $23.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $26.00.
In related news, EVP Andrew Sriubas bought 6,000 shares of Outfront Media stock in a transaction dated Wednesday, September 14th. The stock was purchased at an average cost of $20.88 per share, with a total value of $125,280.00. Following the transaction, the executive vice president now directly owns 19,319 shares of the company’s stock, valued at $403,380.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Donald R. Shassian bought 5,000 shares of Outfront Media stock in a transaction dated Tuesday, September 6th. The shares were bought at an average cost of $21.90 per share, with a total value of $109,500.00. Following the completion of the transaction, the chief financial officer now directly owns 137,438 shares in the company, valued at $3,009,892.20. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
Outfront Media Company Profile
OUTFRONT Media Inc, formerly CBS Outdoor Americas Inc, is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments.
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