OUTFRONT Media Inc. (NYSE:OUT) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in OUTFRONT Media Inc. (NYSE:OUT) by 9.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,600 shares of the financial services provider’s stock after selling 6,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in OUTFRONT Media were worth $1,224,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OUT. Sumitomo Mitsui Trust Holdings Inc. increased its stake in OUTFRONT Media by 23.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,927,340 shares of the financial services provider’s stock worth $32,360,000 after buying an additional 371,978 shares during the period. First Trust Direct Indexing L.P. purchased a new stake in OUTFRONT Media during the 1st quarter worth approximately $210,000. Private Advisor Group LLC increased its stake in OUTFRONT Media by 32.4% during the 1st quarter. Private Advisor Group LLC now owns 28,418 shares of the financial services provider’s stock worth $477,000 after buying an additional 6,950 shares during the period. BNP Paribas Financial Markets increased its stake in OUTFRONT Media by 51.9% during the 1st quarter. BNP Paribas Financial Markets now owns 375,690 shares of the financial services provider’s stock worth $6,308,000 after buying an additional 128,343 shares during the period. Finally, DAVENPORT & Co LLC increased its stake in OUTFRONT Media by 145.8% during the 1st quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider’s stock worth $28,825,000 after buying an additional 1,020,719 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OUT. Wells Fargo & Company began coverage on shares of OUTFRONT Media in a research note on Thursday, September 19th. They set an “overweight” rating and a $22.00 target price on the stock. Barrington Research increased their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. StockNews.com downgraded shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wolfe Research downgraded shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. Finally, TD Cowen started coverage on shares of OUTFRONT Media in a research report on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.50.

OUTFRONT Media Stock Performance

NYSE OUT opened at $17.76 on Friday. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s fifty day moving average price is $17.82 and its 200 day moving average price is $15.92. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.19 and a beta of 1.94. OUTFRONT Media Inc. has a 12 month low of $10.13 and a 12 month high of $19.33.

OUTFRONT Media (NYSE:OUT) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.60. The firm had revenue of $477.30 million for the quarter, compared to the consensus estimate of $482.27 million. OUTFRONT Media had a net margin of 12.32% and a return on equity of 37.83%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. On average, sell-side analysts expect that OUTFRONT Media Inc. will post 1.53 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date of this dividend was Friday, September 6th. OUTFRONT Media’s dividend payout ratio (DPR) is 94.49%.

About OUTFRONT Media

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.