Barnett & Company Inc. Acquires 31,000 Shares of OUTFRONT Media Inc. $OUT

Barnett & Company Inc. grew its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 46.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,300 shares of the financial services provider’s stock after buying an additional 31,000 shares during the quarter. OUTFRONT Media accounts for about 2.0% of Barnett & Company Inc.’s holdings, making the stock its 15th biggest position. Barnett & Company Inc.’s holdings in OUTFRONT Media were worth $2,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Advisory Services Network LLC acquired a new stake in shares of OUTFRONT Media in the 3rd quarter worth about $29,000. Farther Finance Advisors LLC boosted its stake in OUTFRONT Media by 157.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,339 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,431 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in OUTFRONT Media during the 4th quarter worth approximately $71,000. IFP Advisors Inc raised its stake in shares of OUTFRONT Media by 16.5% in the third quarter. IFP Advisors Inc now owns 4,107 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 582 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of OUTFRONT Media by 224.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,853 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 5,432 shares during the last quarter.

Insider Buying and Selling at OUTFRONT Media

In related news, EVP James Michael Norton purchased 4,130 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $30.81 per share, with a total value of $127,245.30. Following the acquisition, the executive vice president owned 4,130 shares of the company’s stock, valued at $127,245.30. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total transaction of $160,400.00. Following the transaction, the executive vice president owned 56,947 shares of the company’s stock, valued at approximately $1,826,859.76. The trade was a 8.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 20,000 shares of company stock valued at $629,600. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley set a $37.00 target price on OUTFRONT Media in a research report on Friday, May 8th. TD Cowen restated a “buy” rating and set a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Barrington Research set a $38.00 target price on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.71.

OUTFRONT Media Price Performance

OUTFRONT Media stock opened at $32.93 on Friday. OUTFRONT Media Inc. has a 52 week low of $16.64 and a 52 week high of $34.96. The company’s 50 day moving average price is $32.11 and its two-hundred day moving average price is $28.48. The stock has a market cap of $5.80 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.60 and a beta of 1.48. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90.

OUTFRONT Media (NYSE:OUT) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.06. The company had revenue of $429.60 million during the quarter, compared to analyst estimates of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.OUTFRONT Media’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. On average, equities analysts predict that OUTFRONT Media Inc. will post 2.12 earnings per share for the current year.

OUTFRONT Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were paid 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 dividend payout ratio is 114.29%.

OUTFRONT Media Company 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.