OUTFRONT Media Inc. $OUT Shares Bought by III Capital Management

III Capital Management grew its stake in OUTFRONT Media Inc. (NYSE:OUT) by 28.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 289,819 shares of the financial services provider’s stock after purchasing an additional 64,945 shares during the period. OUTFRONT Media accounts for 0.8% of III Capital Management’s portfolio, making the stock its 13th biggest position. III Capital Management’s holdings in OUTFRONT Media were worth $4,730,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB acquired a new stake in shares of OUTFRONT Media during the second quarter worth about $5,414,000. Moody National Bank Trust Division acquired a new stake in shares of OUTFRONT Media in the 2nd quarter valued at about $295,000. HighTower Advisors LLC purchased a new position in OUTFRONT Media during the 1st quarter worth approximately $243,000. Jump Financial LLC increased its position in OUTFRONT Media by 1,333.8% during the first quarter. Jump Financial LLC now owns 158,136 shares of the financial services provider’s stock worth $2,552,000 after buying an additional 147,107 shares during the period. Finally, Russell Investments Group Ltd. increased its position in OUTFRONT Media by 26.3% during the second quarter. Russell Investments Group Ltd. now owns 585,338 shares of the financial services provider’s stock worth $9,553,000 after buying an additional 121,987 shares during the period.

Insider Activity

In other news, Director Manuel A. Diaz sold 11,270 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $22.18, for a total value of $249,968.60. Following the completion of the sale, the director directly owned 58,786 shares of the company’s stock, valued at $1,303,873.48. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

OUT has been the topic of a number of research reports. New Street Research set a $24.00 target price on shares of OUTFRONT Media in a research report on Tuesday, November 11th. Barrington Research reissued an “outperform” rating and set a $21.00 price objective on shares of OUTFRONT Media in a research report on Friday, November 7th. Morgan Stanley lifted their price objective on shares of OUTFRONT Media from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. TD Cowen upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, November 11th. Finally, JPMorgan Chase & Co. raised OUTFRONT Media from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $25.00 in a report on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.00.

OUTFRONT Media Stock Performance

Shares of OUT opened at $23.37 on Friday. The stock has a market capitalization of $3.91 billion, a P/E ratio of 34.36, a P/E/G ratio of 1.32 and a beta of 1.57. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.79 and a current ratio of 0.79. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $23.95. The company’s fifty day moving average is $20.23 and its two-hundred day moving average is $18.54.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.21). The firm had revenue of $467.50 million during the quarter, compared to analysts’ expectations of $458.32 million. OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. On average, sell-side analysts predict that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.

OUTFRONT Media Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 5th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, December 5th. OUTFRONT Media’s dividend payout ratio is 176.47%.

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.