ProShare Advisors LLC Sells 7,016 Shares of OUTFRONT Media Inc. (NYSE:OUT)

ProShare Advisors LLC trimmed its stake in OUTFRONT Media Inc. (NYSE:OUT) by 23.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,694 shares of the financial services provider’s stock after selling 7,016 shares during the period. ProShare Advisors LLC’s holdings in OUTFRONT Media were worth $325,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hsbc Holdings PLC bought a new stake in OUTFRONT Media in the fourth quarter valued at $2,370,000. Lasalle Investment Management Securities LLC grew its holdings in shares of OUTFRONT Media by 17.3% during the first quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock worth $47,733,000 after purchasing an additional 419,706 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of OUTFRONT Media by 48.5% during the second quarter. First Eagle Investment Management LLC now owns 711,491 shares of the financial services provider’s stock worth $10,174,000 after purchasing an additional 232,300 shares during the last quarter. Duality Advisers LP bought a new stake in shares of OUTFRONT Media during the first quarter worth $944,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of OUTFRONT Media by 51.9% during the first quarter. BNP Paribas Financial Markets now owns 375,690 shares of the financial services provider’s stock worth $6,308,000 after purchasing an additional 128,343 shares during the last quarter.

OUTFRONT Media Price Performance

OUTFRONT Media stock opened at $17.99 on Thursday. The business’s 50-day simple moving average is $16.52 and its 200 day simple moving average is $15.57. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -6.76, a P/E/G ratio of 1.21 and a beta of 1.94. OUTFRONT Media Inc. has a 12-month low of $8.18 and a 12-month high of $18.89. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.71.

OUTFRONT Media (NYSE:OUT) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.60. The business had revenue of $477.30 million for the quarter, compared to analysts’ expectations of $482.27 million. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 1.53 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.67%. The ex-dividend date was Friday, September 6th. OUTFRONT Media’s payout ratio is -45.11%.

Analysts Set New Price Targets

Several brokerages have recently commented on OUT. Wells Fargo & Company began coverage on OUTFRONT Media in a report on Thursday, September 19th. They set an “overweight” rating and a $22.00 target price on the stock. StockNews.com upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Friday, August 30th. TD Cowen began coverage on OUTFRONT Media in a report on Tuesday, July 16th. They set a “hold” rating and a $16.00 target price on the stock. JPMorgan Chase & Co. increased their target price on OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Barrington Research raised their price target on OUTFRONT Media from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.20.

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.