Advisory Services Network LLC raised its position in Outfront Media Inc. (NYSE:OUT) by 83.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,125 shares of the company’s stock after buying an additional 4,139 shares during the period. Advisory Services Network LLC’s holdings in Outfront Media were worth $216,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in OUT. First Mercantile Trust Co. raised its stake in shares of Outfront Media by 174.5% in the third quarter. First Mercantile Trust Co. now owns 40,490 shares of the company’s stock worth $958,000 after buying an additional 25,740 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Outfront Media by 57.0% in the third quarter. BNP Paribas Arbitrage SA now owns 13,814 shares of the company’s stock valued at $327,000 after buying an additional 5,018 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Outfront Media by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 54,103 shares of the company’s stock valued at $1,308,000 after buying an additional 2,922 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Outfront Media during the second quarter valued at approximately $980,000. Finally, Amalgamated Bank raised its position in shares of Outfront Media by 9.8% in the second quarter. Amalgamated Bank now owns 17,549 shares of the company’s stock valued at $397,000 after buying an additional 1,570 shares in the last quarter.
Shares of Outfront Media Inc. (NYSE:OUT) traded up 0.28% during trading on Friday, hitting $24.94. The stock had a trading volume of 345,893 shares. The company’s market cap is $3.44 billion. The stock has a 50-day moving average price of $22.20 and a 200 day moving average price of $22.68. Outfront Media Inc. has a 12 month low of $18.01 and a 12 month high of $25.11.
Outfront Media (NYSE:OUT) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.25. The business earned $382.80 million during the quarter, compared to the consensus estimate of $382.38 million. Outfront Media had a negative net margin of 0.63% and a negative return on equity of 0.79%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. Equities analysts expect that Outfront Media Inc. will post $0.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Wednesday, December 7th. Outfront Media’s dividend payout ratio (DPR) is presently -1,942.58%.
Several equities analysts have commented on OUT shares. Wells Fargo & Co. raised Outfront Media from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $23.00 to $28.00 in a research report on Tuesday, November 22nd. Loop Capital started coverage on Outfront Media in a research report on Monday, September 12th. They set a “hold” rating and a $23.00 price objective for the company. Finally, Zacks Investment Research lowered Outfront Media from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.29.
In other Outfront Media news, EVP Andrew Sriubas acquired 6,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were bought at an average price of $20.88 per share, with a total value of $125,280.00. Following the transaction, the executive vice president now directly owns 19,319 shares of the company’s stock, valued at approximately $403,380.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy J. Male acquired 5,000 shares of the business’s stock in a transaction on Monday, September 12th. The stock was acquired at an average cost of $21.38 per share, for a total transaction of $106,900.00. Following the transaction, the chief executive officer now directly owns 204,297 shares in the company, valued at $4,367,869.86. The disclosure for this purchase can be found here. 0.36% of the stock is owned by company insiders.
Outfront Media Company Profile
OUTFRONT Media Inc, formerly CBS Outdoor Americas Inc, is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments.