Point72 Asia Singapore Pte. Ltd. Buys New Holdings in OUTFRONT Media Inc. (NYSE:OUT)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of OUTFRONT Media Inc. (NYSE:OUT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,981 shares of the financial services provider’s stock, valued at approximately $569,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP lifted its position 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 acquiring an additional 1,325 shares during the last quarter. National Bank of Canada FI acquired a new stake in OUTFRONT Media during the 2nd quarter worth approximately $28,000. Harbor Capital Advisors Inc. bought a new stake in OUTFRONT Media in the 3rd quarter valued at $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 increased its holdings in shares of OUTFRONT Media by 18.5% during the third quarter. CWM LLC now owns 7,683 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 1,199 shares during the period.

Wall Street Analyst Weigh In

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

OUTFRONT Media Stock Performance

NYSE OUT opened at $19.24 on Tuesday. The firm’s fifty day moving average price is $18.49 and its two-hundred day moving average price is $16.43. The stock has a market cap of $3.19 billion, a PE ratio of 14.04, a PEG ratio of 1.23 and a beta of 1.94. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. 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 issued its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.20). The company had revenue of $451.90 million during the quarter, compared to analyst estimates of $456.38 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. On average, equities analysts expect that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal 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 $0.75 dividend. The ex-dividend date is Friday, November 15th. OUTFRONT Media’s dividend payout ratio (DPR) is currently 87.59%.

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.