Ajo LP acquired a new stake in Outfront Media Inc (NYSE:OUT) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 29,631 shares of the financial services provider’s stock, valued at approximately $693,000.
A number of other large investors have also added to or reduced their stakes in OUT. BlackRock Inc. boosted its stake in Outfront Media by 21.5% in the first quarter. BlackRock Inc. now owns 8,708,773 shares of the financial services provider’s stock valued at $203,787,000 after buying an additional 1,540,539 shares in the last quarter. Norges Bank acquired a new stake in Outfront Media in the fourth quarter valued at about $27,335,000. Millennium Management LLC boosted its stake in Outfront Media by 339.2% in the fourth quarter. Millennium Management LLC now owns 1,941,788 shares of the financial services provider’s stock valued at $35,185,000 after buying an additional 1,499,713 shares in the last quarter. Vanguard Group Inc boosted its stake in Outfront Media by 6.6% in the third quarter. Vanguard Group Inc now owns 19,594,607 shares of the financial services provider’s stock valued at $390,912,000 after buying an additional 1,216,208 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Outfront Media by 69.5% in the first quarter. LSV Asset Management now owns 1,844,538 shares of the financial services provider’s stock valued at $43,162,000 after buying an additional 756,452 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of OUT stock opened at $25.54 on Wednesday. Outfront Media Inc has a 12 month low of $16.81 and a 12 month high of $26.26. The stock has a market cap of $3.69 billion, a PE ratio of 11.88, a PEG ratio of 1.54 and a beta of 1.10. 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 (NYSE:OUT) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.23). Outfront Media had a net margin of 6.40% and a return on equity of 9.36%. The firm had revenue of $371.70 million for the quarter, compared to analyst estimates of $364.55 million. During the same period in the previous year, the business posted $0.27 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts predict that Outfront Media Inc will post 2.28 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date is Thursday, June 6th. Outfront Media’s payout ratio is 66.98%.
Several research firms recently weighed in on OUT. Barrington Research reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Outfront Media in a research note on Monday, May 13th. Zacks Investment Research raised Outfront Media from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Tuesday, April 30th. CIBC began coverage on Outfront Media in a research note on Friday, March 29th. They issued an “outperform” rating and a $30.00 price objective on the stock. Oppenheimer initiated coverage on Outfront Media in a research note on Thursday, March 28th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Imperial Capital raised Outfront Media from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $25.00 to $29.00 in a research note on Thursday, June 6th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Outfront Media has a consensus rating of “Buy” and a consensus target price of $26.87.
In other news, CEO Jeremy J. Male sold 80,000 shares of Outfront Media stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.54, for a total transaction of $1,883,200.00. Following the sale, the chief executive officer now directly owns 392,703 shares of the company’s stock, valued at $9,244,228.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.
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About Outfront Media
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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