Outfront Media Inc (NYSE:OUT) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Outfront Media Inc (NYSE:OUT) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,337,910 shares of the financial services provider’s stock after acquiring an additional 52,636 shares during the period. Geode Capital Management LLC owned 0.96% of Outfront Media worth $24,242,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in OUT. Norges Bank bought a new stake in Outfront Media during the 4th quarter worth approximately $27,335,000. Dimensional Fund Advisors LP raised its position in shares of Outfront Media by 14.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,988,171 shares of the financial services provider’s stock valued at $36,026,000 after buying an additional 258,273 shares during the last quarter. FMR LLC boosted its stake in Outfront Media by 0.7% during the fourth quarter. FMR LLC now owns 12,076,469 shares of the financial services provider’s stock worth $218,825,000 after buying an additional 83,818 shares during the period. Nordea Investment Management AB boosted its stake in shares of Outfront Media by 3.0% during the fourth quarter. Nordea Investment Management AB now owns 230,062 shares of the financial services provider’s stock valued at $4,170,000 after purchasing an additional 6,783 shares during the period. Finally, Advisory Services Network LLC boosted its stake in shares of Outfront Media by 106.9% during the fourth quarter. Advisory Services Network LLC now owns 4,188 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 2,164 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

OUT traded down $0.10 on Monday, reaching $25.69. The company’s stock had a trading volume of 806,425 shares, compared to its average volume of 1,060,465. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a 50 day moving average of $25.42. Outfront Media Inc has a 1 year low of $16.81 and a 1 year high of $26.96. The firm has a market cap of $3.64 billion, a PE ratio of 11.95 and a beta of 1.10.

Outfront Media (NYSE:OUT) last released its earnings results on Tuesday, May 7th. The financial services provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.23). The firm had revenue of $371.70 million for the quarter, compared to the consensus estimate of $364.55 million. Outfront Media had a return on equity of 9.36% and a net margin of 6.40%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend was Thursday, June 6th. Outfront Media’s payout ratio is 66.98%.

A number of analysts have recently issued reports on OUT shares. Oppenheimer started coverage on shares of Outfront Media in a research note on Thursday, March 28th. They set a “buy” rating and a $30.00 target price for the company. CIBC started coverage on shares of Outfront Media in a research note on Friday, March 29th. They set an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research raised shares of Outfront Media from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, April 30th. Barrington Research restated a “buy” rating and issued a $29.00 price objective on shares of Outfront Media in a report on Monday, May 13th. Finally, Imperial Capital upgraded Outfront Media from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $25.00 to $29.00 in a report on Thursday, June 6th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $26.87.

About Outfront Media

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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