PNC Financial Services Group Inc. Sells 5,825 Shares of OUTFRONT Media Inc. (NYSE:OUT)

PNC Financial Services Group Inc. trimmed its stake in OUTFRONT Media Inc. (NYSE:OUT) by 19.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,843 shares of the financial services provider’s stock after selling 5,825 shares during the period. PNC Financial Services Group Inc.’s holdings in OUTFRONT Media were worth $333,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rush Island Management LP bought a new position in OUTFRONT Media in the third quarter worth about $12,117,000. Norges Bank acquired a new stake in OUTFRONT Media in the fourth quarter valued at approximately $13,779,000. DAVENPORT & Co LLC purchased a new position in OUTFRONT Media in the fourth quarter worth $9,774,000. Cove Street Capital LLC increased its position in shares of OUTFRONT Media by 250.2% during the fourth quarter. Cove Street Capital LLC now owns 841,279 shares of the financial services provider’s stock worth $11,744,000 after purchasing an additional 601,079 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its holdings in shares of OUTFRONT Media by 71.6% during the 3rd quarter. Advisors Capital Management LLC now owns 828,335 shares of the financial services provider’s stock valued at $8,366,000 after purchasing an additional 345,626 shares during the last quarter.

OUTFRONT Media Stock Performance

Shares of OUT opened at $14.30 on Friday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a 50-day moving average of $14.58 and a two-hundred day moving average of $14.54. The stock has a market cap of $2.37 billion, a P/E ratio of -5.38, a P/E/G ratio of 0.90 and a beta of 1.91. OUTFRONT Media Inc. has a one year low of $8.18 and a one year high of $17.02.

OUTFRONT Media Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.39%. The ex-dividend date was Friday, June 7th. OUTFRONT Media’s dividend payout ratio (DPR) is -45.11%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OUT shares. TheStreet raised OUTFRONT Media from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Barrington Research restated an “outperform” rating and set a $17.00 price objective on shares of OUTFRONT Media in a report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.75.

OUTFRONT Media Company Profile

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.