Magnolia Group LLC bought a new position in shares of OUTFRONT Media Inc. (NYSE:OUT) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,000,007 shares of the financial services provider’s stock, valued at approximately $25,180,000. OUTFRONT Media accounts for approximately 9.1% of Magnolia Group LLC’s holdings, making the stock its 4th biggest position. Magnolia Group LLC owned approximately 721,401.67% of OUTFRONT Media as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in OUT. Principal Financial Group Inc. raised its stake in shares of OUTFRONT Media by 5.6% during the 1st quarter. Principal Financial Group Inc. now owns 26,658 shares of the financial services provider’s stock worth $708,000 after buying an additional 1,407 shares during the period. Teachers Advisors LLC raised its stake in shares of OUTFRONT Media by 10.4% during the 1st quarter. Teachers Advisors LLC now owns 427,977 shares of the financial services provider’s stock worth $11,363,000 after buying an additional 40,324 shares during the period. Thrivent Financial For Lutherans raised its stake in shares of OUTFRONT Media by 1.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 26,082 shares of the financial services provider’s stock worth $692,000 after buying an additional 300 shares during the period. BlackRock Inc. raised its stake in shares of OUTFRONT Media by 6,693.0% during the 1st quarter. BlackRock Inc. now owns 7,335,438 shares of the financial services provider’s stock worth $194,756,000 after buying an additional 7,227,453 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of OUTFRONT Media by 4.0% during the 1st quarter. Bank of America Corp DE now owns 428,042 shares of the financial services provider’s stock worth $11,365,000 after buying an additional 16,479 shares during the period. 99.38% of the stock is owned by institutional investors and hedge funds.
Shares of OUTFRONT Media Inc. (NYSE:OUT) opened at $24.17 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $3,346.68, a P/E ratio of 12.32, a P/E/G ratio of 1.90 and a beta of 1.15. OUTFRONT Media Inc. has a 12-month low of $20.82 and a 12-month high of $27.89.
OUTFRONT Media (NYSE:OUT) last issued its earnings results on Monday, November 6th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.20). The company had revenue of $392.40 million during the quarter, compared to analysts’ expectations of $391.18 million. OUTFRONT Media had a net margin of 7.71% and a return on equity of 9.57%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. analysts predict that OUTFRONT Media Inc. will post 1.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.96%. The ex-dividend date is Thursday, December 7th. OUTFRONT Media’s payout ratio is currently 171.43%.
Several analysts recently commented on the company. Zacks Investment Research cut OUTFRONT Media from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. BidaskClub cut OUTFRONT Media from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Wells Fargo & Company reiterated an “outperform” rating and set a $30.00 price target on shares of OUTFRONT Media in a research report on Tuesday, October 3rd. ValuEngine cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Barrington Research reiterated an “outperform” rating and set a $26.00 price target (down from $29.00) on shares of OUTFRONT Media in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.17.
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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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