OUTFRONT Media Inc. $OUT Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 51.4% during the third quarter, HoldingsChannel reports. The firm owned 794,096 shares of the financial services provider’s stock after selling 841,489 shares during the period. DAVENPORT & Co LLC’s holdings in OUTFRONT Media were worth $14,508,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. HighTower Advisors LLC acquired a new stake in shares of OUTFRONT Media in the first quarter valued at approximately $243,000. SVB Wealth LLC acquired a new stake in shares of OUTFRONT Media in the 1st quarter worth $28,000. Jump Financial LLC increased its stake in shares of OUTFRONT Media by 1,333.8% in the 1st quarter. Jump Financial LLC now owns 158,136 shares of the financial services provider’s stock worth $2,552,000 after acquiring an additional 147,107 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of OUTFRONT Media during the 1st quarter worth $2,078,000. Finally, Gabelli Funds LLC purchased a new position in shares of OUTFRONT Media during the 1st quarter worth $1,405,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley raised shares of OUTFRONT Media from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $28.00 in a report on Tuesday, December 16th. Citigroup reiterated a “buy” rating and issued a $23.00 target price (up from $20.00) on shares of OUTFRONT Media in a report on Wednesday, November 12th. TD Cowen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, November 11th. New Street Research set a $24.00 price target on shares of OUTFRONT Media in a research report on Tuesday, November 11th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $27.00 price objective (up from $23.00) on shares of OUTFRONT Media in a report on Thursday, December 18th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $24.57.

OUTFRONT Media Price Performance

Shares of OUT opened at $24.06 on Thursday. The firm has a 50-day simple moving average of $21.26 and a two-hundred day simple moving average of $18.97. The stock has a market cap of $4.02 billion, a PE ratio of 35.38, a P/E/G ratio of 1.34 and a beta of 1.57. OUTFRONT Media Inc. has a 1-year low of $12.95 and a 1-year high of $24.84. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.21). OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.The company had revenue of $467.50 million for the quarter, compared to analysts’ expectations of $458.32 million. During the same period in the previous year, the business posted $0.19 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.0%. OUTFRONT Media’s payout ratio is presently 176.47%.

Insider Activity

In related news, Director Manuel A. Diaz sold 11,270 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $22.18, for a total value of $249,968.60. Following the sale, the director owned 58,786 shares in the company, valued at approximately $1,303,873.48. The trade was a 16.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

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.