First Trust Advisors LP boosted its holdings in shares of Outfront Media Inc (NYSE:OUT) by 46.9% in the second quarter, HoldingsChannel reports. The firm owned 568,433 shares of the financial services provider’s stock after acquiring an additional 181,431 shares during the period. First Trust Advisors LP’s holdings in Outfront Media were worth $11,056,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in shares of Outfront Media by 11.3% in the 1st quarter. JPMorgan Chase & Co. now owns 17,694,776 shares of the financial services provider’s stock valued at $331,600,000 after buying an additional 1,791,388 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Outfront Media in the 1st quarter valued at $57,275,000. Thornburg Investment Management Inc. acquired a new stake in shares of Outfront Media in the 1st quarter valued at $43,383,000. Echo Street Capital Management LLC increased its stake in shares of Outfront Media by 128.1% in the 1st quarter. Echo Street Capital Management LLC now owns 1,797,897 shares of the financial services provider’s stock valued at $33,693,000 after buying an additional 1,009,548 shares during the period. Finally, Scout Investments Inc. increased its stake in shares of Outfront Media by 24.0% in the 1st quarter. Scout Investments Inc. now owns 1,429,737 shares of the financial services provider’s stock valued at $26,793,000 after buying an additional 276,994 shares during the period.
Shares of Outfront Media stock opened at $19.55 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.98. Outfront Media Inc has a 12 month low of $17.75 and a 12 month high of $25.30. The firm has a market cap of $2.69 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.59 and a beta of 1.15.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, September 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.37%. Outfront Media’s dividend payout ratio (DPR) is presently 72.00%.
Several equities research analysts have recently commented on OUT shares. Zacks Investment Research cut Outfront Media from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. ValuEngine cut Outfront Media from a “sell” rating to a “strong sell” rating in a research note on Friday, August 3rd. Morgan Stanley decreased their price objective on Outfront Media from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, June 22nd. Wells Fargo & Co reaffirmed a “market perform” rating and set a $27.00 price objective (up from $25.00) on shares of Outfront Media in a research note on Thursday, August 9th. Finally, Citigroup decreased their price objective on Outfront Media from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.80.
Outfront Media 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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