Louisiana State Employees Retirement System Invests $1.71 Million in OUTFRONT Media Inc. $OUT

Louisiana State Employees Retirement System acquired a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 64,500 shares of the financial services provider’s stock, valued at approximately $1,709,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in OUTFRONT Media by 9.3% in the 1st quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider’s stock worth $2,105,000 after purchasing an additional 11,073 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in OUTFRONT Media by 2.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider’s stock valued at $1,388,000 after buying an additional 1,739 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of OUTFRONT Media by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock valued at $80,393,000 after buying an additional 448,993 shares during the period. Empowered Funds LLC increased its position in shares of OUTFRONT Media by 12.4% during the first quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider’s stock valued at $345,000 after buying an additional 2,357 shares during the period. Finally, Woodline Partners LP lifted its holdings in shares of OUTFRONT Media by 45.6% in the first quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider’s stock worth $595,000 after buying an additional 11,559 shares in the last quarter.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, EVP James Michael Norton bought 4,130 shares of OUTFRONT Media stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $30.81 per share, with a total value of $127,245.30. Following the completion of the purchase, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction dated Wednesday, June 24th. The stock was 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 of the company’s stock, valued at approximately $1,826,859.76. This trade represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,000 shares of company stock worth $629,600 in the last three months. Insiders own 0.47% of the company’s stock.

OUTFRONT Media Stock Performance

Shares of OUT opened at $32.89 on Thursday. OUTFRONT Media Inc. has a 12-month low of $16.48 and a 12-month high of $34.96. 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 company has a market cap of $5.79 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.48. The stock has a 50-day moving average price of $31.72 and a 200-day moving average price of $28.07.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. The company had revenue of $429.60 million for the quarter, compared to analysts’ expectations of $431.44 million. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. OUTFRONT Media’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. As a group, equities analysts forecast that OUTFRONT Media Inc. will post 2.12 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.6%. OUTFRONT Media’s dividend payout ratio is presently 114.29%.

OUTFRONT Media 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.