Rafferty Asset Management LLC trimmed its holdings in Outfront Media Inc (NYSE:OUT) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,619 shares of the financial services provider’s stock after selling 3,676 shares during the quarter. Rafferty Asset Management LLC’s holdings in Outfront Media were worth $651,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of Outfront Media by 58.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 815,002 shares of the financial services provider’s stock valued at $15,854,000 after acquiring an additional 302,143 shares during the period. Mackay Shields LLC increased its holdings in shares of Outfront Media by 72.7% in the 2nd quarter. Mackay Shields LLC now owns 154,444 shares of the financial services provider’s stock valued at $3,004,000 after acquiring an additional 65,027 shares during the period. Carillon Tower Advisers Inc. increased its holdings in shares of Outfront Media by 6.0% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 914,306 shares of the financial services provider’s stock valued at $17,783,000 after acquiring an additional 51,375 shares during the period. LSV Asset Management increased its holdings in shares of Outfront Media by 6.5% in the 2nd quarter. LSV Asset Management now owns 436,638 shares of the financial services provider’s stock valued at $8,492,000 after acquiring an additional 26,600 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Outfront Media by 0.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,187,081 shares of the financial services provider’s stock valued at $81,439,000 after acquiring an additional 18,477 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.
Shares of NYSE:OUT opened at $20.78 on Monday. Outfront Media Inc has a 12-month low of $17.27 and a 12-month high of $24.23. The firm has a market capitalization of $2.90 billion, a PE ratio of 10.39, a P/E/G ratio of 1.36 and a beta of 1.17. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be given a $0.36 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.93%. Outfront Media’s payout ratio is 72.00%.
A number of brokerages have recently issued reports on OUT. Citigroup cut their price target on Outfront Media from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 17th. ValuEngine downgraded Outfront Media from a “sell” rating to a “strong sell” rating in a report on Monday, September 24th. Wells Fargo & Co reiterated a “market perform” rating and issued a $27.00 price target (up from $25.00) on shares of Outfront Media in a report on Thursday, August 9th. TheStreet upgraded Outfront Media from a “c+” rating to a “b-” rating in a report on Monday, November 26th. Finally, Zacks Investment Research upgraded Outfront Media from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.20.
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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