ClariVest Asset Management LLC purchased a new position in shares of Outfront Media Inc (NYSE:OUT) in the first quarter, Holdings Channel reports. The institutional investor purchased 138,000 shares of the financial services provider’s stock, valued at approximately $3,229,000.
Several other hedge funds have also modified their holdings of OUT. BlackRock Inc. lifted its holdings in shares of Outfront Media by 21.5% during the first quarter. BlackRock Inc. now owns 8,708,773 shares of the financial services provider’s stock worth $203,787,000 after buying an additional 1,540,539 shares during the last quarter. Norges Bank acquired a new position in shares of Outfront Media during the fourth quarter worth approximately $27,335,000. Millennium Management LLC lifted its holdings in shares of Outfront Media by 339.2% during the fourth quarter. Millennium Management LLC now owns 1,941,788 shares of the financial services provider’s stock worth $35,185,000 after buying an additional 1,499,713 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Outfront Media by 6.6% during the third quarter. Vanguard Group Inc now owns 19,594,607 shares of the financial services provider’s stock worth $390,912,000 after buying an additional 1,216,208 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Outfront Media by 69.5% during the first quarter. LSV Asset Management now owns 1,844,538 shares of the financial services provider’s stock worth $43,162,000 after buying an additional 756,452 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.
In other Outfront Media news, CEO Jeremy J. Male sold 80,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.54, for a total value of $1,883,200.00. Following the sale, the chief executive officer now directly owns 392,703 shares in the company, valued at $9,244,228.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.71% of the company’s stock.
A number of research analysts have recently commented on the company. Imperial Capital upgraded Outfront Media from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $25.00 to $29.00 in a report on Thursday, June 6th. Barrington Research restated a “buy” rating and set a $29.00 price objective on shares of Outfront Media in a research report on Wednesday, May 29th. Zacks Investment Research upgraded Outfront Media from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, April 30th. CIBC initiated coverage on Outfront Media in a research report on Friday, March 29th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Oppenheimer initiated coverage on Outfront Media in a research report on Thursday, March 28th. They set a “buy” rating and a $30.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $26.87.
OUT opened at $25.63 on Thursday. The company has a market cap of $3.62 billion, a PE ratio of 12.01, a PEG ratio of 1.52 and a beta of 1.11. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.07. Outfront Media Inc has a 1 year low of $16.81 and a 1 year high of $26.26.
Outfront Media (NYSE:OUT) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.23). The firm had revenue of $371.70 million for the quarter, compared to the consensus estimate of $364.55 million. Outfront Media had a net margin of 6.40% and a return on equity of 9.36%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, research analysts predict that Outfront Media Inc will post 2.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Thursday, June 6th. Outfront Media’s dividend payout ratio (DPR) is 66.98%.
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 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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