Pacer Advisors Inc. Trims Stock Position in Outfront Media Inc. (REIT) (NYSE:OUT)


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Pacer Advisors Inc. lowered its stake in shares of Outfront Media Inc. (REIT) (NYSE:OUT) by 12.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 862,267 shares of the financial services provider’s stock after selling 120,696 shares during the period. Pacer Advisors Inc. owned about 0.59% of Outfront Media worth $18,823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Inspire Advisors LLC purchased a new position in shares of Outfront Media during the 4th quarter valued at about $28,000. Marshall Wace North America L.P. acquired a new stake in shares of Outfront Media during the 1st quarter valued at about $44,000. Neo Ivy Capital Management grew its position in shares of Outfront Media by 20.7% during the 3rd quarter. Neo Ivy Capital Management now owns 5,724 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 981 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Outfront Media by 29.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 15,396 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 3,523 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Outfront Media during the 4th quarter valued at about $247,000. Institutional investors and hedge funds own 90.62% of the company’s stock.

A number of research firms have recently commented on OUT. Oppenheimer raised their target price on Outfront Media from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Tuesday, March 30th. Citigroup lifted their price objective on Outfront Media from $21.00 to $25.00 in a report on Tuesday, March 2nd. Zacks Investment Research cut Outfront Media from a “hold” rating to a “strong sell” rating and set a $18.00 price objective on the stock. in a report on Thursday, March 4th. Morgan Stanley lifted their price objective on Outfront Media from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 30th. Finally, Barrington Research boosted their target price on Outfront Media from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $22.44.

Shares of OUT stock traded up $0.03 during trading on Thursday, hitting $22.25. 10,952 shares of the stock traded hands, compared to its average volume of 1,806,016. The firm has a market capitalization of $3.23 billion, a P/E ratio of -117.00, a price-to-earnings-growth ratio of 1.50 and a beta of 1.78. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.78 and a quick ratio of 1.78. The firm’s fifty day moving average price is $22.02 and its 200-day moving average price is $18.78. Outfront Media Inc. has a 52-week low of $10.66 and a 52-week high of $24.60.

Outfront Media (NYSE:OUT) last released its quarterly earnings results on Thursday, February 25th. The financial services provider reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.25). Outfront Media had a negative net margin of 1.46% and a negative return on equity of 1.94%. As a group, equities research analysts expect that Outfront Media Inc. will post 0.43 earnings per share for the current year.

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.

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Institutional Ownership by Quarter for Outfront Media (NYSE:OUT)

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