Millennium Management LLC Lowers Stock Holdings in OUTFRONT Media Inc. (NYSE:OUT)

Millennium Management LLC decreased its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 86.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,075 shares of the financial services provider's stock after selling 621,311 shares during the quarter. Millennium Management LLC owned about 0.06% of OUTFRONT Media worth $1,793,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of OUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in OUTFRONT Media by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,232 shares of the financial services provider's stock valued at $1,494,000 after acquiring an additional 3,209 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of OUTFRONT Media during the fourth quarter valued at approximately $113,000. Jefferies Financial Group Inc. bought a new stake in OUTFRONT Media during the fourth quarter worth $608,000. Ensign Peak Advisors Inc grew its holdings in OUTFRONT Media by 4.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 63,479 shares of the financial services provider's stock worth $1,126,000 after buying an additional 2,495 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in OUTFRONT Media by 28.4% in the 4th quarter. Cetera Investment Advisers now owns 19,046 shares of the financial services provider's stock valued at $338,000 after buying an additional 4,208 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OUT. Barrington Research reiterated an "outperform" rating and issued a $21.00 target price on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective 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, May 9th. Citigroup restated a "buy" rating and issued a $19.00 target price (up previously from $17.00) on shares of OUTFRONT Media in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their target price on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Finally, Wall Street Zen lowered OUTFRONT Media from a "hold" rating to a "sell" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, OUTFRONT Media has a consensus rating of "Hold" and an average target price of $18.23.

OUTFRONT Media Stock Performance

OUT traded down $0.02 on Thursday, hitting $16.47. The company's stock had a trading volume of 544,744 shares, compared to its average volume of 1,639,986. OUTFRONT Media Inc. has a 12 month low of $12.95 and a 12 month high of $19.50. The firm has a market cap of $2.75 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.06 and a beta of 1.84. 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 company's 50 day simple moving average is $15.39 and its 200-day simple moving average is $17.31.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly 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 return on equity of 40.33% and a net margin of 13.30%. The company had revenue of $390.70 million during the quarter, compared to the consensus estimate of $396.17 million. Analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 7.29%. The ex-dividend date was Friday, June 6th. OUTFRONT Media's dividend payout ratio is 78.95%.

OUTFRONT Media Company Profile

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.