Bank of New York Mellon Corp Sells 16,411 Shares of OUTFRONT Media Inc. $OUT

Bank of New York Mellon Corp cut its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 1.0% in the first quarter, Holdings Channel reports. The fund owned 1,629,472 shares of the financial services provider’s stock after selling 16,411 shares during the quarter. Bank of New York Mellon Corp’s holdings in OUTFRONT Media were worth $43,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of OUT. Balyasny Asset Management L.P. raised its stake in shares of OUTFRONT Media by 226.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,310,195 shares of the financial services provider’s stock worth $55,676,000 after purchasing an additional 1,603,315 shares during the last quarter. Vanguard Group Inc. lifted its position in OUTFRONT Media by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider’s stock valued at $545,983,000 after purchasing an additional 1,131,954 shares during the period. Ameriprise Financial Inc. boosted its holdings in OUTFRONT Media by 85.2% in the second quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider’s stock valued at $29,192,000 after purchasing an additional 822,845 shares during the last quarter. Woodline Partners LP acquired a new stake in OUTFRONT Media during the 3rd quarter worth about $13,705,000. Finally, Federated Hermes Inc. grew its position in OUTFRONT Media by 199.9% during the 4th quarter. Federated Hermes Inc. now owns 905,641 shares of the financial services provider’s stock worth $21,826,000 after purchasing an additional 603,694 shares during the period.

Insider Activity at OUTFRONT Media

In other OUTFRONT Media news, EVP James Michael Norton acquired 4,130 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the acquisition, the executive vice president owned 4,130 shares of the company’s stock, valued at approximately $127,245.30. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard H. Sauer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the sale, the executive vice president directly owned 56,947 shares in the company, valued at approximately $1,826,859.76. The trade was a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 20,000 shares of company stock valued at $629,600. Insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OUT shares. Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a research report on Friday, May 8th. Wall Street Zen upgraded shares of OUTFRONT Media from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $38.00 price target on shares of OUTFRONT Media in a report on Wednesday. Barrington Research set a $38.00 price target on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.57.

OUTFRONT Media Trading Up 0.3%

Shares of NYSE OUT opened at $31.97 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. The stock has a market capitalization of $5.63 billion, a PE ratio of 30.45, a PEG ratio of 1.51 and a beta of 1.48. OUTFRONT Media Inc. has a twelve month low of $16.64 and a twelve month high of $34.96. The stock has a fifty day simple moving average of $32.23 and a 200-day simple moving average of $29.09.

OUTFRONT Media (NYSE:OUT) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.06. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The firm had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. During the same quarter in the prior year, the company earned $0.14 EPS. OUTFRONT Media’s revenue was up 10.0% on a year-over-year basis. On average, equities analysts forecast that OUTFRONT Media Inc. will post 2.11 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.8%. OUTFRONT Media’s dividend payout ratio (DPR) is presently 114.29%.

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.