Cadence Capital Management LLC Invests $205,000 in OUTFRONT Media Inc. (OUT) Stock
Cadence Capital Management LLC acquired a new stake in OUTFRONT Media Inc. (NYSE:OUT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,157 shares of the financial services provider’s stock, valued at approximately $205,000.
Other hedge funds have also recently made changes to their positions in the company. Utah Retirement Systems lifted its position in OUTFRONT Media by 62.9% during the second quarter. Utah Retirement Systems now owns 41,001 shares of the financial services provider’s stock worth $948,000 after buying an additional 15,837 shares during the period. JPMorgan Chase & Co. increased its stake in OUTFRONT Media by 7.3% in the second quarter. JPMorgan Chase & Co. now owns 14,230,026 shares of the financial services provider’s stock valued at $328,999,000 after purchasing an additional 973,398 shares in the last quarter. Legal & General Group Plc increased its stake in OUTFRONT Media by 5.4% in the second quarter. Legal & General Group Plc now owns 126,737 shares of the financial services provider’s stock valued at $2,931,000 after purchasing an additional 6,531 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in OUTFRONT Media by 105.7% in the second quarter. Cubist Systematic Strategies LLC now owns 21,470 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 11,030 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in OUTFRONT Media by 2.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,092,657 shares of the financial services provider’s stock valued at $25,263,000 after purchasing an additional 27,119 shares in the last quarter.
OUTFRONT Media Inc. (OUT) traded up $0.60 during trading hours on Friday, hitting $23.27. 1,018,100 shares of the stock traded hands, compared to its average volume of 858,916. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $3,192.80, a P/E ratio of 11.75, a PEG ratio of 1.81 and a beta of 1.13. OUTFRONT Media Inc. has a one year low of $20.82 and a one year high of $27.89.
OUTFRONT Media (NYSE:OUT) last posted its earnings results on Monday, November 6th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.20). The business had revenue of $392.40 million for the quarter, compared to the consensus estimate of $391.18 million. OUTFRONT Media had a return on equity of 9.57% and a net margin of 7.71%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. equities research analysts predict that OUTFRONT Media Inc. will post 1.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date is Thursday, December 7th. OUTFRONT Media’s payout ratio is currently 171.43%.
Several research firms have weighed in on OUT. Zacks Investment Research raised shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $30.00 price target on shares of OUTFRONT Media in a research note on Tuesday, October 3rd. ValuEngine raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Loop Capital reaffirmed a “buy” rating and issued a $28.00 price target (up from $27.00) on shares of OUTFRONT Media in a research note on Thursday, September 28th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $26.00 price target (down from $29.00) on shares of OUTFRONT Media in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.17.
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OUTFRONT Media Company Profile
OUTFRONT Media Inc is a real estate investment trust (REIT), which provides advertising space (displays) on out-of-home advertising structures and sites in the United States and Canada. The Company’s segments are U.S. Media and Other. The U.S. Media segment includes U.S. Billboard and Transit. The Other segment includes International and Sports Marketing.
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