Millennium Management LLC cut its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 86.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,075 shares of the financial services provider's stock after selling 621,311 shares during the period. Millennium Management LLC owned about 0.06% of OUTFRONT Media worth $1,793,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of OUTFRONT Media during the fourth quarter valued at about $980,000. Bank of America Corp DE grew its stake in OUTFRONT Media by 28.2% in the fourth quarter. Bank of America Corp DE now owns 346,544 shares of the financial services provider's stock worth $6,148,000 after purchasing an additional 76,306 shares in the last quarter. Wells Fargo & Company MN grew its stake in OUTFRONT Media by 40.1% in the fourth quarter. Wells Fargo & Company MN now owns 94,898 shares of the financial services provider's stock worth $1,684,000 after purchasing an additional 27,166 shares in the last quarter. Northern Trust Corp grew its stake in OUTFRONT Media by 8.2% in the fourth quarter. Northern Trust Corp now owns 2,119,006 shares of the financial services provider's stock worth $37,591,000 after purchasing an additional 159,848 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in OUTFRONT Media by 125.8% in 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 in the last quarter.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Citigroup reiterated a "buy" rating and issued a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. Barrington Research reiterated an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on OUTFRONT Media from $22.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. decreased their price target on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Finally, Morgan Stanley decreased their price target on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $18.23.
Check Out Our Latest Research Report on OUTFRONT Media
OUTFRONT Media Stock Performance
OUT stock traded up $0.03 during midday trading on Friday, reaching $16.32. The company had a trading volume of 1,118,240 shares, compared to its average volume of 1,655,866. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00. The stock has a 50 day moving average price of $15.40 and a 200 day moving average price of $17.27. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $19.98. The firm has a market capitalization of $2.73 billion, a PE ratio of 11.63, a P/E/G ratio of 1.06 and a beta of 1.84.
OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company had revenue of $390.70 million during the quarter, compared to analyst estimates of $396.17 million. Analysts anticipate that OUTFRONT Media Inc. will post 1.59 earnings per share for the current year.
OUTFRONT Media Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, June 6th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.20 dividend on an annualized basis and a yield of 7.36%. OUTFRONT Media's payout ratio is currently 78.95%.
About OUTFRONT Media
(
Free Report)
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.
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