Teacher Retirement System of Texas decreased its position in OUTFRONT Media Inc. (NYSE:OUT – Free Report) by 27.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,200 shares of the financial services provider’s stock after selling 4,319 shares during the quarter. Teacher Retirement System of Texas’ holdings in OUTFRONT Media were worth $176,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department raised its position in shares of OUTFRONT Media by 0.6% in the fourth quarter. State of Tennessee Treasury Department now owns 92,766 shares of the financial services provider’s stock valued at $1,538,000 after buying an additional 517 shares during the last quarter. Belpointe Asset Management LLC grew its stake in OUTFRONT Media by 116.7% in the 1st quarter. Belpointe Asset Management LLC now owns 1,560 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 840 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in OUTFRONT Media by 1.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,758 shares of the financial services provider’s stock valued at $1,035,000 after acquiring an additional 962 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of OUTFRONT Media by 11.9% during the 1st quarter. Mackenzie Financial Corp now owns 9,120 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 970 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of OUTFRONT Media during the first quarter worth $28,000.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on OUTFRONT Media from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 5th. Barrington Research dropped their price target on shares of OUTFRONT Media from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. Morgan Stanley decreased their price target on shares of OUTFRONT Media from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, October 9th. TheStreet cut shares of OUTFRONT Media from a “c-” rating to a “d+” rating in a research note on Monday, September 18th. Finally, Citigroup cut their target price on OUTFRONT Media from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.50.
Insiders Place Their Bets
In related news, EVP Clive A. Punter bought 9,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $11.12 per share, with a total value of $100,080.00. Following the completion of the transaction, the executive vice president now directly owns 174,647 shares of the company’s stock, valued at $1,942,074.64. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.95% of the stock is currently owned by insiders.
OUTFRONT Media Price Performance
OUT opened at $9.30 on Thursday. The company has a 50 day moving average of $10.45 and a two-hundred day moving average of $13.55. OUTFRONT Media Inc. has a 52-week low of $8.18 and a 52-week high of $21.65. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 4.21. The company has a market cap of $1.53 billion, a P/E ratio of -3.66, a P/E/G ratio of 0.64 and a beta of 1.74.
OUTFRONT Media Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 12.91%. The ex-dividend date of this dividend was Thursday, August 31st. OUTFRONT Media’s dividend payout ratio (DPR) is presently -47.24%.
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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.
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