Bailard Inc. Purchases New Position in OUTFRONT Media Inc. (NYSE:OUT)

Bailard Inc. purchased a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT) in the 2nd quarter, Holdings Channel reports. The fund purchased 12,600 shares of the financial services provider’s stock, valued at approximately $180,000.

Several other institutional investors have also recently added to or reduced their stakes in OUT. DAVENPORT & Co LLC lifted its holdings in OUTFRONT Media by 145.8% during the 1st quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider’s stock valued at $28,825,000 after purchasing an additional 1,020,719 shares during the last quarter. Norges Bank bought a new position in shares of OUTFRONT Media in the fourth quarter worth about $13,779,000. Cove Street Capital LLC grew its position in shares of OUTFRONT Media by 250.2% during the 4th quarter. Cove Street Capital LLC now owns 841,279 shares of the financial services provider’s stock worth $11,744,000 after buying an additional 601,079 shares during the period. Lasalle Investment Management Securities LLC grew its position in shares of OUTFRONT Media by 17.3% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock worth $47,733,000 after buying an additional 419,706 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of OUTFRONT Media by 23.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,927,340 shares of the financial services provider’s stock worth $32,360,000 after buying an additional 371,978 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently commented on OUT shares. StockNews.com cut shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Cowen started coverage on shares of OUTFRONT Media in a research report on Tuesday, July 16th. They set a “hold” rating and a $16.00 price target for the company. Barrington Research lifted their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, OUTFRONT Media has a consensus rating of “Hold” and a consensus target price of $16.00.

OUTFRONT Media Stock Up 0.9 %

Shares of NYSE OUT opened at $16.82 on Wednesday. The stock has a market cap of $2.79 billion, a P/E ratio of -6.32, a P/E/G ratio of 1.02 and a beta of 1.92. The firm has a 50 day moving average price of $15.16 and a 200 day moving average price of $15.07. The company has a debt-to-equity ratio of 5.08, a quick ratio of 0.58 and a current ratio of 0.58. OUTFRONT Media Inc. has a 52-week low of $8.18 and a 52-week high of $17.02.

OUTFRONT Media (NYSE:OUT) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.60. The company had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $482.27 million. OUTFRONT Media had a negative net margin of 23.38% and a negative return on equity of 72.77%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Analysts expect that OUTFRONT Media Inc. will post 1.55 EPS for the current year.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 7.13%. The ex-dividend date is Friday, September 6th. OUTFRONT Media’s dividend payout ratio (DPR) is presently -45.11%.

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.