25,348 Shares of OUTFRONT Media Inc. $OUT Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC purchased a new stake in OUTFRONT Media Inc. (NYSE:OUT) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 25,348 shares of the financial services provider’s stock, valued at approximately $703,000.

Other hedge funds have also recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in shares of OUTFRONT Media in the 2nd quarter valued at $34,000. EverSource Wealth Advisors LLC lifted its holdings in shares of OUTFRONT Media by 74.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,610 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 686 shares in the last quarter. TOP Private Wealth LLC. purchased a new stake in OUTFRONT Media during the 2nd quarter worth $72,000. Nykredit A S purchased a new stake in OUTFRONT Media during the 2nd quarter worth $84,000. Finally, Sterling Capital Management LLC increased its holdings in OUTFRONT Media by 839.2% in the 3rd quarter. Sterling Capital Management LLC now owns 5,325 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 4,758 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on OUTFRONT Media from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating and issued a $40.00 target price (up from $38.00) on shares of OUTFRONT Media in a research report on Thursday, August 6th. Citigroup reiterated a “buy” rating on shares of OUTFRONT Media in a research note on Tuesday, September 8th. JPMorgan Chase & Co. assumed coverage on OUTFRONT Media in a report on Wednesday, July 22nd. They set an “overweight” rating and a $38.00 target price on the stock. Finally, Wall Street Zen lowered OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

OUTFRONT Media Stock Performance

NYSE:OUT opened at $32.41 on Thursday. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a 50-day moving average of $29.63 and a two-hundred day moving average of $29.64. The stock has a market cap of $5.71 billion, a P/E ratio of 23.32 and a beta of 1.56. OUTFRONT Media Inc. has a 1-year low of $17.40 and a 1-year high of $34.96.

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

Insider Transactions at OUTFRONT Media

In other OUTFRONT Media news, EVP Matthew Siegel sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $27.84, for a total transaction of $696,000.00. Following the completion of the sale, the executive vice president owned 264,925 shares in the company, valued at $7,375,512. This trade represents a 8.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Emilio Bonanni sold 3,385 shares of OUTFRONT Media stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $29.82, for a total value of $100,940.70. Following the sale, the executive vice president owned 10,420 shares in the company, valued at $310,724.40. This represents a 24.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.45% of the company’s stock.

OUTFRONT Media Profile

OUTFRONT Media Inc (NYSE: OUT) is an out-of-home media company that provides advertising services through a portfolio of billboard, transit and other outdoor advertising assets. The company helps advertisers reach consumers in high-traffic locations, including roads, urban centers, public transportation systems and other public spaces.

Its offerings include traditional printed billboards, digital billboards, transit displays and place-based media. OUTFRONT also provides related services such as media planning, creative support, audience analytics and technology-enabled advertising solutions, including digital and programmatic buying capabilities.

OUTFRONT primarily serves advertisers across the United States and Canada.