OUTFRONT Media Inc. $OUT Shares Bought by III Capital Management

III Capital Management grew its stake in OUTFRONT Media Inc. (NYSE:OUT) by 28.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 289,819 shares of the financial services provider’s stock after acquiring an additional 64,945 shares during the quarter. OUTFRONT Media comprises approximately 0.8% of III Capital Management’s investment portfolio, making the stock its 13th biggest position. III Capital Management owned about 0.17% of OUTFRONT Media worth $4,730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC acquired a new stake in OUTFRONT Media during the first quarter worth about $28,000. Caitong International Asset Management Co. Ltd grew its stake in shares of OUTFRONT Media by 158.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,331 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,041 shares during the period. Rossby Financial LCC increased its holdings in shares of OUTFRONT Media by 42.4% during the 2nd quarter. Rossby Financial LCC now owns 6,953 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,071 shares during the last quarter. GAMMA Investing LLC raised its position in shares of OUTFRONT Media by 113.7% during the 2nd quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider’s stock valued at $130,000 after buying an additional 4,238 shares during the period. Finally, EMC Capital Management purchased a new stake in shares of OUTFRONT Media during the 2nd quarter valued at approximately $174,000.

Insider Buying and Selling

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,270 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $22.18, for a total transaction of $249,968.60. Following the sale, the director owned 58,786 shares in the company, valued at $1,303,873.48. This represents a 16.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.

OUTFRONT Media Trading Down 0.9%

Shares of OUT stock opened at $23.37 on Friday. The stock has a market capitalization of $3.91 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.57. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $23.95. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.79 and a current ratio of 0.79. The company has a 50 day moving average price of $20.23 and a 200 day moving average price of $18.54.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.21). The business had revenue of $467.50 million during the quarter, compared to analysts’ expectations of $458.32 million. OUTFRONT Media had a net margin of 6.86% and a return on equity of 21.56%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. Equities research analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Friday, December 5th. OUTFRONT Media’s payout ratio is presently 176.47%.

Wall Street Analysts Forecast Growth

OUT has been the subject of several recent analyst reports. Citigroup reissued a “buy” rating and set a $23.00 target price (up previously from $20.00) on shares of OUTFRONT Media in a research note on Wednesday, November 12th. Wall Street Zen upgraded OUTFRONT Media from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. TD Cowen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, November 11th. Morgan Stanley lifted their target price on shares of OUTFRONT Media from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Finally, Cowen raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.