Wasatch Advisors Inc. trimmed its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 54.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,746 shares of the financial services provider’s stock after selling 96,397 shares during the quarter. Wasatch Advisors Inc. owned approximately 0.06% of OUTFRONT Media worth $1,890,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in OUT. BlackRock Inc. boosted its stake in shares of OUTFRONT Media by 6,693.0% during the first quarter. BlackRock Inc. now owns 7,335,438 shares of the financial services provider’s stock valued at $194,756,000 after purchasing an additional 7,227,453 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of OUTFRONT Media during the second quarter valued at about $100,424,000. Daiwa Securities Group Inc. boosted its stake in shares of OUTFRONT Media by 69.8% during the second quarter. Daiwa Securities Group Inc. now owns 3,864,333 shares of the financial services provider’s stock valued at $89,343,000 after purchasing an additional 1,589,096 shares in the last quarter. Deprince Race & Zollo Inc. lifted its stake in shares of OUTFRONT Media by 53.7% in the second quarter. Deprince Race & Zollo Inc. now owns 2,980,580 shares of the financial services provider’s stock worth $68,911,000 after acquiring an additional 1,040,813 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of OUTFRONT Media by 7.3% in the second quarter. JPMorgan Chase & Co. now owns 14,230,026 shares of the financial services provider’s stock worth $328,999,000 after acquiring an additional 973,398 shares during the period.
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A number of research firms recently commented on OUT. Zacks Investment Research lowered OUTFRONT Media from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Wells Fargo & Company reiterated an “outperform” rating and issued a $30.00 target price on shares of OUTFRONT Media in a report on Tuesday, October 3rd. ValuEngine upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Loop Capital reiterated a “buy” rating and issued a $28.00 target price (up from $27.00) on shares of OUTFRONT Media in a report on Thursday, September 28th. Finally, BidaskClub downgraded OUTFRONT Media from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $30.17.
OUTFRONT Media Inc. (NYSE:OUT) opened at 23.64 on Friday. OUTFRONT Media Inc. has a 52-week low of $20.82 and a 52-week high of $27.89. The stock has a market cap of $3.28 billion, a PE ratio of 31.56 and a beta of 1.19. The firm has a 50-day moving average price of $23.18 and a 200 day moving average price of $23.26.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend is Thursday, December 7th. OUTFRONT Media’s payout ratio is currently 189.48%.
OUTFRONT Media Company Profile
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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