First Trust Advisors LP cut its holdings in shares of Outfront Media Inc (NYSE:OUT) by 17.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 468,869 shares of the financial services provider’s stock after selling 99,564 shares during the quarter. First Trust Advisors LP’s holdings in Outfront Media were worth $9,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cove Street Capital LLC acquired a new position in Outfront Media during the second quarter worth about $134,000. Cubist Systematic Strategies LLC boosted its position in Outfront Media by 70.2% during the second quarter. Cubist Systematic Strategies LLC now owns 10,826 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 4,467 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Outfront Media during the second quarter worth about $279,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Outfront Media during the second quarter worth about $289,000. Finally, Schnieders Capital Management LLC acquired a new position in Outfront Media during the second quarter worth about $291,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

NYSE:OUT opened at $20.88 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.36 and a beta of 1.14. Outfront Media Inc has a 1-year low of $17.27 and a 1-year high of $24.75.

Outfront Media (NYSE:OUT) last posted its earnings results on Monday, November 5th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $414.20 million for the quarter, compared to analyst estimates of $404.37 million. Outfront Media had a net margin of 5.54% and a return on equity of 7.42%. Outfront Media’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. Equities analysts expect that Outfront Media Inc will post 2.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be issued a $0.36 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.44 annualized dividend and a yield of 6.90%. Outfront Media’s payout ratio is 72.00%.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Outfront Media from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Wells Fargo & Co restated a “market perform” rating and set a $27.00 price target (up from $25.00) on shares of Outfront Media in a research report on Thursday, August 9th. ValuEngine lowered shares of Outfront Media from a “sell” rating to a “strong sell” rating in a research report on Friday, August 3rd. Imperial Capital assumed coverage on shares of Outfront Media in a research report on Thursday, September 13th. They set an “inline” rating and a $22.00 price target on the stock. Finally, Citigroup lowered their price target on shares of Outfront Media from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $23.60.

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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.

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Institutional Ownership by Quarter for Outfront Media (NYSE:OUT)

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