Victory Capital Management Inc. Has $2.43 Million Stake in Outfront Media Inc. (NYSE:OUT)

Posted by Defense World Staff on May 30th, 2023

Victory Capital Management Inc. boosted its position in shares of Outfront Media Inc. (NYSE:OUT – Get Rating) by 258.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,134 shares of the financial services provider’s stock after acquiring an additional 88,071 shares during the period. Victory Capital Management Inc. owned 0.07% of Outfront Media worth $2,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in shares of Outfront Media during the first quarter valued at about $28,000. CWM LLC raised its position in Outfront Media by 86.6% in the fourth quarter. CWM LLC now owns 1,726 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 801 shares in the last quarter. Quantbot Technologies LP acquired a new position in Outfront Media in the first quarter worth about $41,000. Captrust Financial Advisors bought a new stake in Outfront Media during the second quarter worth about $80,000. Finally, Edgestream Partners L.P. bought a new stake in Outfront Media during the third quarter worth about $162,000.

Outfront Media Price Performance

Shares of NYSE:OUT opened at $14.33 on Tuesday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.57 and a quick ratio of 0.57. Outfront Media Inc. has a one year low of $13.87 and a one year high of $21.65. The firm has a 50 day simple moving average of $15.41 and a 200 day simple moving average of $17.02. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 0.85 and a beta of 1.70.

Outfront Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.37%. The ex-dividend date of this dividend is Thursday, June 1st. Outfront Media’s dividend payout ratio (DPR) is presently 181.82%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Outfront Media from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, February 23rd. Barrington Research reiterated an “outperform” rating and issued a $24.00 target price on shares of Outfront Media in a report on Thursday, February 23rd. StockNews.com lowered shares of Outfront Media from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Finally, Citigroup decreased their target price on shares of Outfront Media from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Outfront Media currently has an average rating of “Hold” and a consensus target price of $22.75.

Outfront Media Company Profile

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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.