Weiss Asset Management LP Buys Shares of 81,713 OUTFRONT Media Inc. (NYSE:OUT)

Weiss Asset Management LP bought a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 81,713 shares of the financial services provider’s stock, valued at approximately $1,502,000.

Other hedge funds have also made changes to their positions in the company. Dark Forest Capital Management LP increased its holdings in shares of OUTFRONT Media by 3.0% in the second quarter. Dark Forest Capital Management LP now owns 25,133 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 738 shares during the last quarter. Quest Partners LLC increased its holdings in shares of OUTFRONT Media by 30.0% in the second quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 994 shares during the last quarter. CWM LLC increased its holdings in shares of OUTFRONT Media by 18.5% in the third quarter. CWM LLC now owns 7,683 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 1,199 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of OUTFRONT Media by 5.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 23,222 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 1,220 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of OUTFRONT Media by 0.6% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 206,715 shares of the financial services provider’s stock valued at $3,799,000 after purchasing an additional 1,235 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

OUTFRONT Media Price Performance

OUT stock opened at $18.95 on Friday. The business has a fifty day moving average of $18.54 and a two-hundred day moving average of $16.54. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.96. OUTFRONT Media Inc. has a 52-week low of $12.13 and a 52-week high of $19.50.

OUTFRONT Media (NYSE:OUT) last posted its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.20). The business had revenue of $451.90 million for the quarter, compared to analyst estimates of $456.38 million. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. OUTFRONT Media’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 1.56 earnings per share for the current year.

OUTFRONT Media Cuts Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 15th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is currently 87.59%.

OUTFRONT Media 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.