Cipher Capital LP Raises Position in OUTFRONT Media Inc. (OUT)
Cipher Capital LP increased its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 212.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,301 shares of the financial services provider’s stock after acquiring an additional 65,463 shares during the period. Cipher Capital LP owned about 0.07% of OUTFRONT Media worth $2,425,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of OUT. Principal Financial Group Inc. lifted its holdings in OUTFRONT Media by 5.6% during the 1st quarter. Principal Financial Group Inc. now owns 26,658 shares of the financial services provider’s stock worth $708,000 after buying an additional 1,407 shares during the period. Teachers Advisors LLC lifted its holdings in OUTFRONT Media by 10.4% during the 1st quarter. Teachers Advisors LLC now owns 427,977 shares of the financial services provider’s stock worth $11,363,000 after buying an additional 40,324 shares during the period. State Street Corp lifted its holdings in OUTFRONT Media by 5.0% during the 1st quarter. State Street Corp now owns 1,886,963 shares of the financial services provider’s stock worth $50,100,000 after buying an additional 89,294 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in OUTFRONT Media by 0.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 62,038 shares of the financial services provider’s stock worth $1,647,000 after buying an additional 444 shares during the period. Finally, James Investment Research Inc. acquired a new position in OUTFRONT Media during the 2nd quarter worth about $1,090,000. Institutional investors and hedge funds own 99.38% of the company’s stock.
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Shares of OUTFRONT Media Inc. (OUT) traded up $0.22 during trading hours on Tuesday, hitting $24.21. The stock had a trading volume of 77,754 shares, compared to its average volume of 860,750. The firm has a market cap of $3,350.00, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.23 and a quick ratio of 1.23. OUTFRONT Media Inc. has a 12 month low of $20.82 and a 12 month high of $27.89.
OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.20). The business had revenue of $392.40 million during the quarter, compared to analyst estimates of $391.18 million. OUTFRONT Media had a net margin of 7.71% and a return on equity of 9.57%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. research analysts predict that OUTFRONT Media Inc. will post 1.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date of this dividend is Thursday, December 7th. OUTFRONT Media’s dividend payout ratio is 171.43%.
Several research analysts have commented on OUT shares. BidaskClub downgraded OUTFRONT Media from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Barrington Research reaffirmed an “outperform” rating and set a $26.00 target price (down from $29.00) on shares of OUTFRONT Media in a report on Monday, August 14th. ValuEngine downgraded OUTFRONT Media from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Loop Capital reaffirmed a “buy” rating and set a $28.00 target price (up from $27.00) on shares of OUTFRONT Media in a report on Thursday, September 28th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $30.00 target price on shares of OUTFRONT Media in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.17.
OUTFRONT Media Profile
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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