AQR Capital Management LLC trimmed its stake in Outfront Media Inc (NYSE:OUT) by 58.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,793 shares of the financial services provider’s stock after selling 62,416 shares during the period. AQR Capital Management LLC’s holdings in Outfront Media were worth $894,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gabelli Funds LLC purchased a new position in shares of Outfront Media in the 3rd quarter valued at $200,000. Cubist Systematic Strategies LLC lifted its stake in shares of Outfront Media by 70.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,826 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 4,467 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Outfront Media in the 3rd quarter worth $287,000. Ramsey Quantitative Systems acquired a new stake in shares of Outfront Media in the 3rd quarter worth $363,000. Finally, Schroder Investment Management Group acquired a new stake in shares of Outfront Media in the 3rd quarter worth $373,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE OUT traded up $0.38 during midday trading on Friday, hitting $21.38. The company had a trading volume of 728,454 shares, compared to its average volume of 762,894. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.92. Outfront Media Inc has a twelve month low of $16.81 and a twelve month high of $22.36. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.24.
Several analysts have recently commented on the stock. Zacks Investment Research cut shares of Outfront Media from a “buy” rating to a “hold” rating in a research note on Monday, January 28th. Wolfe Research initiated coverage on shares of Outfront Media in a research note on Friday, December 7th. They issued an “outperform” rating and a $25.00 target price for the company. TheStreet upgraded shares of Outfront Media from a “c+” rating to a “b-” rating in a research note on Monday, November 26th. Citigroup cut shares of Outfront Media from a “buy” rating to a “neutral” rating and set a $20.81 price objective for the company. in a research note on Thursday, January 31st. Finally, ValuEngine upgraded shares of Outfront Media from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 6th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Outfront Media has a consensus rating of “Hold” and a consensus price target of $23.30.
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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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.
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