Public Employees Retirement System of Ohio Invests $5.98 Million in OUTFRONT Media Inc. $OUT

Public Employees Retirement System of Ohio bought a new position in OUTFRONT Media Inc. (NYSE:OUT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 182,511 shares of the financial services provider’s stock, valued at approximately $5,979,000. Public Employees Retirement System of Ohio owned 0.10% of OUTFRONT Media at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in OUTFRONT Media by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,211,619 shares of the financial services provider’s stock valued at $58,603,000 after buying an additional 133,960 shares during the period. Intech Investment Management LLC grew its stake in OUTFRONT Media by 116.6% during the fourth quarter. Intech Investment Management LLC now owns 269,557 shares of the financial services provider’s stock worth $6,496,000 after buying an additional 145,115 shares during the period. Gabelli Funds LLC increased its position in shares of OUTFRONT Media by 30.3% in the fourth quarter. Gabelli Funds LLC now owns 333,440 shares of the financial services provider’s stock worth $8,036,000 after acquiring an additional 77,545 shares in the last quarter. Waterloo Capital L.P. increased its position in shares of OUTFRONT Media by 199.5% in the fourth quarter. Waterloo Capital L.P. now owns 108,263 shares of the financial services provider’s stock worth $2,609,000 after acquiring an additional 72,117 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of OUTFRONT Media by 24.1% in the 1st quarter. California State Teachers Retirement System now owns 177,269 shares of the financial services provider’s stock valued at $4,698,000 after acquiring an additional 34,403 shares during the period.

Insider Transactions at OUTFRONT Media

In other news, EVP James Michael Norton acquired 4,130 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the purchase, the executive vice president directly owned 4,130 shares of the company’s stock, valued at $127,245.30. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value 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. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $629,600. Corporate insiders own 0.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OUT. Barrington Research set a $38.00 target price on shares of OUTFRONT Media in a report on Tuesday, May 12th. Morgan Stanley set a $37.00 price objective on OUTFRONT Media in a research report on Friday, May 8th. Wall Street Zen cut OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Wells Fargo & Company upped their target price on OUTFRONT Media from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $38.00 target price on shares of OUTFRONT Media in a research note on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

OUTFRONT Media Trading Down 0.9%

NYSE OUT opened at $29.55 on Thursday. The stock has a market cap of $5.20 billion, a P/E ratio of 21.26 and a beta of 1.48. The company’s fifty day simple moving average is $31.60 and its 200-day simple moving average is $30.23. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.50. OUTFRONT Media Inc. has a 52 week low of $16.97 and a 52 week high of $34.96.

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

OUTFRONT Media Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change 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 4.5%. OUTFRONT Media’s dividend payout ratio is presently 86.33%.

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.