Envestnet Asset Management Inc. trimmed its position in Outfront Media (NYSE:OUT) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,591 shares of the financial services provider’s stock after selling 5,822 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Outfront Media were worth $1,359,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Deprince Race & Zollo Inc. raised its position in Outfront Media by 13.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 3,422,025 shares of the financial services provider’s stock valued at $79,391,000 after acquiring an additional 399,090 shares in the last quarter. Jackson Square Partners LLC raised its position in Outfront Media by 2.7% during the fourth quarter. Jackson Square Partners LLC now owns 3,342,680 shares of the financial services provider’s stock valued at $77,550,000 after acquiring an additional 88,798 shares in the last quarter. Macquarie Group Ltd. raised its position in Outfront Media by 309.2% during the fourth quarter. Macquarie Group Ltd. now owns 2,698,603 shares of the financial services provider’s stock valued at $62,608,000 after acquiring an additional 2,039,132 shares in the last quarter. Neuberger Berman Group LLC raised its position in Outfront Media by 97.2% during the third quarter. Neuberger Berman Group LLC now owns 2,545,404 shares of the financial services provider’s stock valued at $64,093,000 after acquiring an additional 1,254,605 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Outfront Media by 48.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,444,318 shares of the financial services provider’s stock valued at $56,708,000 after acquiring an additional 794,564 shares in the last quarter. Hedge funds and other institutional investors own 98.70% of the company’s stock.
Shares of OUT opened at $18.64 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.26 and a debt-to-equity ratio of 1.75. Outfront Media has a 12 month low of $17.75 and a 12 month high of $26.87. The company has a market capitalization of $2,597.36, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09.
Outfront Media (NYSE:OUT) last issued its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.31). Outfront Media had a net margin of 8.27% and a return on equity of 10.31%. The business had revenue of $401.30 million during the quarter, compared to analyst estimates of $404.74 million. research analysts anticipate that Outfront Media will post 2.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 9th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 7.73%. The ex-dividend date was Thursday, March 8th. Outfront Media’s payout ratio is currently 72.00%.
Several research analysts recently weighed in on the company. Zacks Investment Research cut Outfront Media from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Wednesday, January 10th. ValuEngine cut Outfront Media from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Wells Fargo reduced their price target on Outfront Media from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Outfront Media has an average rating of “Hold” and a consensus target price of $26.50.
ILLEGAL ACTIVITY NOTICE: This article was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.thelincolnianonline.com/2018/04/18/outfront-media-out-stake-lessened-by-envestnet-asset-management-inc.html.
About Outfront Media
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.
Receive News & Ratings for Outfront Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Outfront Media and related companies with MarketBeat.com's FREE daily email newsletter.