Public Employees Retirement System of Ohio raised its holdings in OUTFRONT Media Inc. (NYSE:OUT – Free Report) by 215.9% in the 1st quarter, HoldingsChannel reports. The fund owned 171,417 shares of the financial services provider’s stock after acquiring an additional 117,154 shares during the period. Public Employees Retirement System of Ohio’s holdings in OUTFRONT Media were worth $4,543,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the business. AQR Capital Management LLC grew its stake in shares of OUTFRONT Media by 9.3% in the first quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider’s stock worth $2,105,000 after purchasing an additional 11,073 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in OUTFRONT Media by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider’s stock valued at $1,388,000 after purchasing an additional 1,739 shares during the period. Goldman Sachs Group Inc. raised its position in OUTFRONT Media by 9.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider’s stock worth $80,393,000 after purchasing an additional 448,993 shares during the last quarter. Empowered Funds LLC raised its position in OUTFRONT Media by 12.4% during the 1st quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 2,357 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in OUTFRONT Media by 45.6% during the 1st quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider’s stock worth $595,000 after buying an additional 11,559 shares during the period.
OUTFRONT Media Price Performance
Shares of NYSE OUT opened at $32.71 on Thursday. The company has a market capitalization of $5.76 billion, a PE ratio of 31.16, a P/E/G ratio of 1.54 and a beta of 1.48. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90. OUTFRONT Media Inc. has a twelve month low of $16.64 and a twelve month high of $34.96. The firm has a fifty day simple moving average of $32.24 and a 200 day simple moving average of $29.29.
OUTFRONT Media Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a dividend of $0.30 per share. The ex-dividend date was Friday, June 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. OUTFRONT Media’s dividend payout ratio is presently 114.29%.
Insider Activity
In other OUTFRONT Media news, EVP James Michael Norton bought 4,130 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the acquisition, the executive vice president owned 4,130 shares in the company, valued at $127,245.30. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Richard H. Sauer sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the completion of the transaction, the executive vice president directly owned 56,947 shares in the company, valued at approximately $1,826,859.76. This trade represents a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 20,000 shares of company stock worth $629,600. 0.45% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on OUT shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $38.00 price target on shares of OUTFRONT Media in a research report on Wednesday, July 22nd. Wall Street Zen downgraded OUTFRONT Media from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Barrington Research set a $38.00 price objective on OUTFRONT Media in a research note on Tuesday, May 12th. TD Cowen reiterated a “buy” rating and issued a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a report on Tuesday, May 12th. Finally, Morgan Stanley set a $37.00 target price on OUTFRONT Media in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.57.
Check Out Our Latest Stock Analysis on OUTFRONT Media
OUTFRONT Media Company Profile
OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.
Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.
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