Bank of New York Mellon Corp lessened its stake in shares of Outfront Media Inc (NYSE:OUT) by 59.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 983,571 shares of the financial services provider’s stock after selling 1,468,746 shares during the period. Bank of New York Mellon Corp owned 0.68% of Outfront Media worth $13,938,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OUT. Marshall Wace North America L.P. acquired a new position in shares of Outfront Media during the 1st quarter worth about $44,000. Victory Capital Management Inc. grew its stake in Outfront Media by 10.0% during the 1st quarter. Victory Capital Management Inc. now owns 60,479 shares of the financial services provider’s stock valued at $815,000 after acquiring an additional 5,490 shares in the last quarter. Aperio Group LLC grew its stake in Outfront Media by 91.9% during the 1st quarter. Aperio Group LLC now owns 47,650 shares of the financial services provider’s stock valued at $642,000 after acquiring an additional 22,818 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Outfront Media by 0.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,538 shares of the financial services provider’s stock valued at $2,245,000 after acquiring an additional 874 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in Outfront Media during the 1st quarter valued at about $454,000. Hedge funds and other institutional investors own 94.32% of the company’s stock.

OUT has been the subject of several analyst reports. Barrington Research reissued a “buy” rating and issued a $17.00 price target on shares of Outfront Media in a research note on Friday, August 14th. ValuEngine cut shares of Outfront Media from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Citigroup increased their price target on shares of Outfront Media from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley increased their price target on shares of Outfront Media from $13.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Outfront Media currently has an average rating of “Hold” and a consensus price target of $18.29.

NYSE:OUT opened at $16.37 on Wednesday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $2.36 billion, a P/E ratio of 74.41, a PEG ratio of 2.10 and a beta of 1.51. The company has a 50 day moving average price of $15.74 and a 200 day moving average price of $15.27. Outfront Media Inc has a fifty-two week low of $7.07 and a fifty-two week high of $31.20.

Outfront Media (NYSE:OUT) last released its earnings results on Wednesday, August 5th. The financial services provider reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.23). Outfront Media had a return on equity of 2.96% and a net margin of 2.03%. Research analysts forecast that Outfront Media Inc will post 0.75 earnings per share for the current fiscal year.

Outfront Media Profile

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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.

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Institutional Ownership by Quarter for Outfront Media (NYSE:OUT)

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