Systematic Financial Management LP grew its holdings in Outfront Media Inc (NYSE:OUT) by 31.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 446,061 shares of the financial services provider’s stock after purchasing an additional 107,776 shares during the period. Systematic Financial Management LP owned approximately 0.32% of Outfront Media worth $8,676,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of OUT. JPMorgan Chase & Co. grew its position in Outfront Media by 11.3% during the 1st quarter. JPMorgan Chase & Co. now owns 17,694,776 shares of the financial services provider’s stock worth $331,600,000 after acquiring an additional 1,791,388 shares during the last quarter. Bank of New York Mellon Corp grew its position in Outfront Media by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,951,574 shares of the financial services provider’s stock worth $76,859,000 after acquiring an additional 285,210 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in Outfront Media during the 1st quarter worth $57,275,000. Thornburg Investment Management Inc. bought a new stake in Outfront Media during the 1st quarter worth $43,383,000. Finally, Echo Street Capital Management LLC grew its position in Outfront Media by 128.1% during the 1st quarter. Echo Street Capital Management LLC now owns 1,797,897 shares of the financial services provider’s stock worth $33,693,000 after acquiring an additional 1,009,548 shares during the last quarter.
A number of equities research analysts recently weighed in on OUT shares. Zacks Investment Research lowered Outfront Media from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. ValuEngine upgraded Outfront Media from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 14th. Wells Fargo & Co restated a “market perform” rating and set a $27.00 price objective (up previously from $25.00) on shares of Outfront Media in a research report on Thursday, August 9th. Morgan Stanley reduced their price objective on Outfront Media from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, June 22nd. Finally, Citigroup cut their target price on Outfront Media from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.80.
Shares of OUT opened at $19.76 on Tuesday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 1.59 and a beta of 1.15. Outfront Media Inc has a 12 month low of $17.75 and a 12 month high of $25.30. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.28 and a current ratio of 1.28.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 7.29%. The ex-dividend date of this dividend is Thursday, September 6th. Outfront Media’s payout ratio is presently 72.00%.
Outfront Media Company Profile
OUTFRONT Media connects 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 Media is implementing digital technology that will fundamentally change the ways advertisers engage people on-the-go.
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