III Capital Management Purchases 17,548 Shares of OUTFRONT Media Inc. (NYSE:OUT)

III Capital Management grew its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,459 shares of the financial services provider’s stock after acquiring an additional 17,548 shares during the quarter. OUTFRONT Media accounts for about 0.3% of III Capital Management’s investment portfolio, making the stock its 29th largest holding. III Capital Management’s holdings in OUTFRONT Media were worth $4,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of OUT. Quarry LP increased its holdings in OUTFRONT Media by 258.8% during the second quarter. Quarry LP now owns 1,837 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,325 shares during the last quarter. National Bank of Canada FI bought a new stake in OUTFRONT Media in the 2nd quarter valued at $28,000. Harbor Capital Advisors Inc. bought a new position in OUTFRONT Media during the 3rd quarter worth $32,000. Quest Partners LLC grew its stake 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 acquiring an additional 994 shares in the last quarter. Finally, CWM LLC boosted its holdings in OUTFRONT Media by 18.5% in the 3rd 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 period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OUT shares. Wells Fargo & Company initiated coverage on OUTFRONT Media in a research report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price target on the stock. Barrington Research reaffirmed an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a report on Wednesday, November 13th. StockNews.com downgraded shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Wolfe Research lowered OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.25.

OUTFRONT Media Stock Down 0.7 %

OUT traded down $0.14 during trading on Tuesday, hitting $19.11. 243,105 shares of the company’s stock were exchanged, compared to its average volume of 1,777,109. The business’s 50 day moving average is $18.49 and its two-hundred day moving average is $16.43. The stock has a market cap of $3.17 billion, a P/E ratio of 14.04, a PEG ratio of 1.23 and a beta of 1.97. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00. OUTFRONT Media Inc. has a fifty-two week low of $12.13 and a fifty-two week high of $19.50.

OUTFRONT Media (NYSE:OUT) last announced 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 analysts’ expectations of $456.38 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. As a group, equities analysts expect that OUTFRONT Media Inc. will post 1.56 earnings per share for the current fiscal year.

OUTFRONT Media Cuts Dividend

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

OUTFRONT Media Company 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.