Connor Clark & Lunn Investment Management Ltd. Buys New Position in OUTFRONT Media Inc. (NYSE:OUT)

Posted by Defense World Staff on Aug 26th, 2023

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of OUTFRONT Media Inc. (NYSE:OUT – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,616 shares of the financial services provider’s stock, valued at approximately $481,000.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in OUTFRONT Media by 223.9% during the first quarter. Versant Capital Management Inc now owns 1,629 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,126 shares in the last quarter. Lazard Asset Management LLC purchased a new position in OUTFRONT Media during the first quarter valued at approximately $28,000. CWM LLC lifted its holdings in OUTFRONT Media by 86.6% during the fourth quarter. CWM LLC now owns 1,726 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 801 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in OUTFRONT Media during the fourth quarter valued at approximately $33,000. Finally, Ellevest Inc. lifted its holdings in OUTFRONT Media by 272.8% during the first quarter. Ellevest Inc. now owns 2,151 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,574 shares in the last quarter.

Insider Buying and Selling at OUTFRONT Media

In other news, EVP Clive A. Punter purchased 9,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of $11.12 per share, with a total value of $100,080.00. Following the completion of the transaction, the executive vice president now owns 174,647 shares in the company, valued at approximately $1,942,074.64. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

OUTFRONT Media Trading Up 0.4 %

NYSE OUT opened at $11.63 on Friday. The company’s 50-day moving average price is $14.19 and its 200-day moving average price is $15.43. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 4.21. The stock has a market cap of $1.92 billion, a PE ratio of -4.58, a PEG ratio of 0.75 and a beta of 1.69. OUTFRONT Media Inc. has a 12 month low of $10.86 and a 12 month high of $21.65.

OUTFRONT Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 10.32%. The ex-dividend date of this dividend is Thursday, August 31st. OUTFRONT Media’s dividend payout ratio (DPR) is presently -47.24%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on OUT shares. Citigroup lowered their price target on shares of OUTFRONT Media from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, August 14th. Morgan Stanley lowered their target price on shares of OUTFRONT Media from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 2nd. StockNews.com started coverage on shares of OUTFRONT Media in a report on Thursday, August 17th. They issued a “sell” rating on the stock. JPMorgan Chase & Co. downgraded shares of OUTFRONT Media from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $14.00 in a report on Friday, August 4th. Finally, Oppenheimer downgraded shares of OUTFRONT Media from an “outperform” rating to a “market perform” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, OUTFRONT Media has a consensus rating of “Hold” and an average price target of $16.50.

Get Our Latest Stock Analysis on OUT

About OUTFRONT Media

(Free Report)

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.