Owl Creek Asset Management L.P. Has $6.61 Million Stake in OUTFRONT Media Inc. (NYSE:OUT)

Owl Creek Asset Management L.P. lowered its stake in OUTFRONT Media Inc. (NYSE:OUT) by 63.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 473,511 shares of the financial services provider’s stock after selling 817,451 shares during the period. OUTFRONT Media accounts for about 0.5% of Owl Creek Asset Management L.P.’s holdings, making the stock its 17th biggest holding. Owl Creek Asset Management L.P.’s holdings in OUTFRONT Media were worth $6,610,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Allworth Financial LP raised its position in OUTFRONT Media by 52.7% during the fourth quarter. Allworth Financial LP now owns 2,534 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 874 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of OUTFRONT Media by 1.1% in the fourth quarter. Gabelli Funds LLC now owns 88,500 shares of the financial services provider’s stock valued at $1,235,000 after acquiring an additional 1,000 shares in the last quarter. Spire Wealth Management bought a new stake in OUTFRONT Media during the fourth quarter worth about $28,000. Versant Capital Management Inc lifted its position in OUTFRONT Media by 1,369.2% during the fourth quarter. Versant Capital Management Inc now owns 2,336 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 2,177 shares during the period. Finally, UBS Group AG lifted its position in OUTFRONT Media by 0.9% during the third quarter. UBS Group AG now owns 277,513 shares of the financial services provider’s stock worth $2,803,000 after purchasing an additional 2,585 shares during the period.

OUTFRONT Media Stock Up 0.1 %

NYSE OUT traded up $0.01 during mid-day trading on Tuesday, hitting $13.80. The company’s stock had a trading volume of 227,288 shares, compared to its average volume of 1,932,425. The company’s 50 day simple moving average is $15.12 and its 200 day simple moving average is $14.43. OUTFRONT Media Inc. has a twelve month low of $8.18 and a twelve month high of $17.02. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 5.08. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -5.18, a PEG ratio of 0.89 and a beta of 1.91.

OUTFRONT Media Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 8.70%. The ex-dividend date of this dividend is Friday, June 7th. OUTFRONT Media’s payout ratio is currently -45.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OUT shares. TheStreet raised shares of OUTFRONT Media from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. StockNews.com upgraded shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $17.00 price objective on shares of OUTFRONT Media in a research report on Tuesday, May 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, OUTFRONT Media presently has an average rating of “Hold” and a consensus price target of $14.75.

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.