Barclays PLC trimmed its holdings in OUTFRONT Media Inc. (NYSE:OUT – Free Report) by 65.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,963 shares of the financial services provider’s stock after selling 304,906 shares during the period. Barclays PLC owned about 0.10% of OUTFRONT Media worth $2,596,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in OUT. Versant Capital Management Inc lifted its position in shares of OUTFRONT Media by 223.9% during the first quarter. Versant Capital Management Inc now owns 1,629 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,126 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of OUTFRONT Media during the first quarter valued at about $28,000. CWM LLC lifted its position in shares of OUTFRONT Media by 86.6% during the fourth quarter. CWM LLC now owns 1,726 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 801 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of OUTFRONT Media during the fourth quarter valued at about $33,000. Finally, Fifth Third Bancorp lifted its position in shares of OUTFRONT Media by 216.3% during the first quarter. Fifth Third Bancorp now owns 2,331 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,594 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on OUT. Barrington Research dropped their price target on shares of OUTFRONT Media from $24.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. Morgan Stanley decreased their price objective on shares of OUTFRONT Media from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, August 2nd. Citigroup decreased their price objective on shares of OUTFRONT Media from $21.00 to $18.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. downgraded shares of OUTFRONT Media from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $14.00 in a report on Friday, August 4th. Finally, Oppenheimer downgraded shares of OUTFRONT Media from an “outperform” rating to a “market perform” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.50.
OUTFRONT Media Price Performance
OUT opened at $11.06 on Wednesday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -4.35, a PEG ratio of 0.73 and a beta of 1.69. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 4.21. The firm has a 50-day moving average price of $14.84 and a 200-day moving average price of $15.87. OUTFRONT Media Inc. has a twelve month low of $11.02 and a twelve month high of $21.65.
OUTFRONT Media Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 10.85%. OUTFRONT Media’s payout ratio is -47.24%.
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.