Benchstone Capital Management LP Invests $29.04 Million in OUTFRONT Media Inc. (NYSE:OUT)

Benchstone Capital Management LP purchased a new position in OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,636,881 shares of the financial services provider's stock, valued at approximately $29,038,000. OUTFRONT Media makes up 3.0% of Benchstone Capital Management LP's holdings, making the stock its 15th largest holding. Benchstone Capital Management LP owned 1.01% of OUTFRONT Media as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in OUTFRONT Media by 403.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,687,678 shares of the financial services provider's stock valued at $49,400,000 after purchasing an additional 2,153,423 shares during the last quarter. Franklin Resources Inc. boosted its holdings in OUTFRONT Media by 653.3% during the 3rd quarter. Franklin Resources Inc. now owns 229,872 shares of the financial services provider's stock valued at $4,260,000 after acquiring an additional 199,356 shares during the period. Raymond James Financial Inc. bought a new position in OUTFRONT Media in the 4th quarter valued at $980,000. Wells Fargo & Company MN grew its position in OUTFRONT Media by 40.1% in the 4th quarter. Wells Fargo & Company MN now owns 94,898 shares of the financial services provider's stock valued at $1,684,000 after acquiring an additional 27,166 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of OUTFRONT Media by 125.8% during the fourth quarter. Bank of Montreal Can now owns 41,563 shares of the financial services provider's stock worth $737,000 after purchasing an additional 23,159 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OUT. Wells Fargo & Company decreased their price target on shares of OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday. Barrington Research reiterated an "outperform" rating and issued a $21.00 target price on shares of OUTFRONT Media in a report on Wednesday, April 23rd. Finally, Morgan Stanley cut their price target on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.97.

OUTFRONT Media Stock Down 2.2 %

Shares of OUT stock traded down $0.34 during trading hours on Friday, reaching $15.05. 1,078,518 shares of the company's stock were exchanged, compared to its average volume of 1,668,687. The stock has a market cap of $2.51 billion, a PE ratio of 10.73, a PEG ratio of 1.06 and a beta of 1.84. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 4.00. The stock's fifty day moving average price is $15.59 and its two-hundred day moving average price is $17.63. OUTFRONT Media Inc. has a 1 year low of $12.95 and a 1 year high of $19.50.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The company had revenue of $390.70 million for the quarter, compared to analyst estimates of $396.17 million. Research analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, June 6th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.97%. OUTFRONT Media's dividend payout ratio is presently 81.63%.

About OUTFRONT Media

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.