Nisa Investment Advisors LLC trimmed its position in Outfront Media Inc (NYSE:OUT) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,743 shares of the financial services provider’s stock after selling 9,520 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Outfront Media were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Nuveen Asset Management LLC bought a new position in Outfront Media during the second quarter worth $54,299,000. LSV Asset Management increased its holdings in Outfront Media by 52.1% in the 2nd quarter. LSV Asset Management now owns 2,805,889 shares of the financial services provider’s stock valued at $72,363,000 after buying an additional 961,351 shares during the period. Invesco Ltd. increased its holdings in Outfront Media by 212.5% in the 2nd quarter. Invesco Ltd. now owns 1,400,560 shares of the financial services provider’s stock valued at $36,121,000 after buying an additional 952,323 shares during the period. Morgan Stanley increased its holdings in Outfront Media by 101.0% in the 2nd quarter. Morgan Stanley now owns 1,616,043 shares of the financial services provider’s stock valued at $41,678,000 after buying an additional 812,151 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Outfront Media by 23.1% in the 2nd quarter. Renaissance Technologies LLC now owns 3,600,969 shares of the financial services provider’s stock valued at $92,869,000 after buying an additional 675,000 shares during the period. Institutional investors and hedge funds own 95.05% of the company’s stock.
Shares of NYSE OUT opened at $25.02 on Friday. The firm’s 50-day simple moving average is $27.13 and its 200 day simple moving average is $26.35. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. The company has a quick ratio of 0.88, a current ratio of 0.71 and a debt-to-equity ratio of 3.06. Outfront Media Inc has a 12-month low of $16.81 and a 12-month high of $28.42.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 5.76%. Outfront Media’s payout ratio is presently 66.98%.
Several equities research analysts have issued reports on OUT shares. Barrington Research reissued a “buy” rating and issued a $29.00 price target on shares of Outfront Media in a report on Tuesday. ValuEngine lowered shares of Outfront Media from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Zacks Investment Research lowered shares of Outfront Media from a “buy” rating to a “sell” rating and set a $29.00 target price on the stock. in a report on Wednesday, October 23rd. Finally, Imperial Capital upped their target price on shares of Outfront Media from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Outfront Media presently has a consensus rating of “Hold” and a consensus target price of $27.48.
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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