Vanguard Group Inc. raised its stake in Outfront Media Inc. (NYSE:OUT) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,985,215 shares of the company’s stock after buying an additional 692,647 shares during the period. Vanguard Group Inc. owned 7.24% of Outfront Media worth $241,343,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its stake in Outfront Media by 46.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,142 shares of the company’s stock valued at $100,000 after buying an additional 1,317 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Outfront Media by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 4,431 shares of the company’s stock valued at $107,000 after buying an additional 21 shares during the last quarter. Societe Generale purchased a new stake in Outfront Media during the second quarter valued at $111,000. SG Americas Securities LLC purchased a new stake in Outfront Media during the second quarter valued at $111,000. Finally, Advisory Services Network LLC increased its stake in Outfront Media by 33.0% in the second quarter. Advisory Services Network LLC now owns 4,986 shares of the company’s stock valued at $121,000 after buying an additional 1,236 shares during the last quarter.
Shares of Outfront Media Inc. (NYSE:OUT) opened at 22.05 on Friday. The stock’s 50 day moving average price is $22.52 and its 200-day moving average price is $22.53. Outfront Media Inc. has a 52 week low of $18.01 and a 52 week high of $24.44. The stock’s market cap is $3.04 billion.
Outfront Media (NYSE:OUT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by $0.06. The business had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $380.11 million. Outfront Media had a negative return on equity of 2.13% and a negative net margin of 1.74%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. Equities analysts anticipate that Outfront Media Inc. will post $0.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date was Wednesday, September 7th. Outfront Media’s dividend payout ratio is presently -679.97%.
Several analysts recently weighed in on the company. Loop Capital assumed coverage on Outfront Media in a report on Monday, September 12th. They issued a “hold” rating and a $23.00 price objective for the company. Gabelli assumed coverage on Outfront Media in a report on Friday, July 22nd. They issued a “hold” rating and a $29.00 price objective for the company. Wedbush began coverage on Outfront Media in a report on Thursday, July 21st. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, Zacks Investment Research lowered Outfront Media from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.00.
In other news, CEO Jeremy J. Male bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were purchased at an average price of $21.38 per share, with a total value of $106,900.00. Following the purchase, the chief executive officer now owns 204,297 shares in the company, valued at $4,367,869.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Sriubas bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average cost of $20.88 per share, for a total transaction of $125,280.00. Following the purchase, the executive vice president now owns 19,319 shares in the company, valued at approximately $403,380.72. 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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