Virtus ETF Advisers LLC Sells 2,423 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Virtus ETF Advisers LLC trimmed its position in OUTFRONT Media Inc. (NYSE:OUT) by 20.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,691 shares of the financial services provider’s stock after selling 2,423 shares during the period. Virtus ETF Advisers LLC’s holdings in OUTFRONT Media were worth $172,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of OUT. Barclays PLC increased its stake in shares of OUTFRONT Media by 43.0% in the third quarter. Barclays PLC now owns 501,439 shares of the financial services provider’s stock valued at $9,218,000 after buying an additional 150,669 shares during the period. Franklin Resources Inc. increased its position in shares of OUTFRONT Media by 653.3% during the third quarter. Franklin Resources Inc. now owns 229,872 shares of the financial services provider’s stock worth $4,260,000 after buying an additional 199,356 shares during the period. JPMorgan Chase & Co. grew its holdings in OUTFRONT Media by 403.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,687,678 shares of the financial services provider’s stock worth $49,400,000 after acquiring an additional 2,153,423 shares during the period. GAMMA Investing LLC raised its position in shares of OUTFRONT Media by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 3,796 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 613 shares in the last quarter. Finally, Moody National Bank Trust Division increased its holdings in OUTFRONT Media by 4.0% in the fourth quarter. Moody National Bank Trust Division now owns 18,028 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 698 shares in the last quarter.

OUTFRONT Media Price Performance

Shares of NYSE OUT opened at $15.02 on Monday. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $19.98. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.06 and a beta of 1.79. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50-day simple moving average is $16.12 and its 200 day simple moving average is $17.85.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. The business had revenue of $493.20 million for the quarter, compared to analysts’ expectations of $490.42 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a $0.30 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.20 annualized dividend and a yield of 7.99%. OUTFRONT Media’s dividend payout ratio (DPR) is 81.63%.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an “outperform” rating and set a $21.00 price objective on shares of OUTFRONT Media in a report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.37.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.