Pacer Advisors Inc. boosted its holdings in shares of Outfront Media Inc (NYSE:OUT) by 145.1% in the 3rd quarter, Holdings Channel reports. The firm owned 195,126 shares of the financial services provider’s stock after buying an additional 115,500 shares during the period. Pacer Advisors Inc.’s holdings in Outfront Media were worth $5,421,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Parallax Volatility Advisers L.P. purchased a new stake in shares of Outfront Media in the 2nd quarter valued at approximately $1,140,000. Macquarie Group Ltd. increased its stake in Outfront Media by 2.8% in the 2nd quarter. Macquarie Group Ltd. now owns 3,744,111 shares of the financial services provider’s stock valued at $96,561,000 after buying an additional 102,933 shares during the period. River & Mercantile Asset Management LLP acquired a new position in Outfront Media in the 2nd quarter valued at approximately $6,291,000. Hancock Whitney Corp acquired a new position in Outfront Media in the 2nd quarter valued at approximately $1,044,000. Finally, Toronto Dominion Bank acquired a new position in Outfront Media in the 2nd quarter valued at approximately $471,000. 94.89% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Outfront Media from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Saturday, August 10th. Imperial Capital upped their price objective on shares of Outfront Media from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, ValuEngine lowered shares of Outfront Media from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $27.85.
Outfront Media stock opened at $27.85 on Friday. The firm has a market cap of $3.96 billion, a PE ratio of 12.28, a P/E/G ratio of 1.42 and a beta of 1.07. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50 day moving average price is $27.48 and its two-hundred day moving average price is $25.93. Outfront Media Inc has a twelve month low of $16.81 and a twelve month high of $28.42.
Outfront Media (NYSE:OUT) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.25). The company had revenue of $459.90 million during the quarter, compared to analyst estimates of $451.73 million. Outfront Media had a net margin of 9.45% and a return on equity of 14.27%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) EPS. Equities analysts anticipate that Outfront Media Inc will post 2.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a $0.36 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.44 annualized dividend and a yield of 5.17%. Outfront Media’s dividend payout ratio is presently 66.98%.
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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.
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