OUTFRONT Media Inc. (NYSE:OUT) Shares Bought by Vestcor Inc

Vestcor Inc increased its stake in OUTFRONT Media Inc. (NYSE:OUT) by 846.4% during the third quarter, HoldingsChannel.com reports. The fund owned 113,572 shares of the financial services provider’s stock after buying an additional 101,572 shares during the period. Vestcor Inc’s holdings in OUTFRONT Media were worth $2,087,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OUT. Land & Buildings Investment Management LLC acquired a new position in shares of OUTFRONT Media in the 2nd quarter worth $22,724,000. Point72 Asset Management L.P. acquired a new position in shares of OUTFRONT Media in the 3rd quarter worth $24,552,000. FMR LLC grew its holdings in shares of OUTFRONT Media by 13.6% in the 3rd quarter. FMR LLC now owns 6,711,791 shares of the financial services provider’s stock worth $123,363,000 after acquiring an additional 803,292 shares during the last quarter. DigitalBridge Group Inc. grew its holdings in shares of OUTFRONT Media by 11.7% in the 2nd quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock worth $44,703,000 after acquiring an additional 327,125 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of OUTFRONT Media in the 3rd quarter worth $5,762,000.

OUTFRONT Media Price Performance

OUT opened at $18.82 on Wednesday. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.21 and a beta of 1.97. OUTFRONT Media Inc. has a 1 year low of $12.13 and a 1 year high of $19.50. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 4.00. The stock has a fifty day moving average price of $18.57 and a 200 day moving average price of $16.62.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings data on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). The firm had revenue of $451.90 million for the quarter, compared to analyst estimates of $456.38 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. OUTFRONT Media’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Analysts forecast that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s dividend payout ratio (DPR) is currently 87.59%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OUT. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Wells Fargo & Company initiated coverage on OUTFRONT Media in a research report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 target price for the company. Barrington Research reaffirmed an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Finally, Wolfe Research cut OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, OUTFRONT Media presently has an average rating of “Hold” and a consensus target price of $19.25.

OUTFRONT Media Company Profile

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.