Granite Investment Partners LLC Reduces Position in OUTFRONT Media Inc. (NYSE:OUT)

Granite Investment Partners LLC lessened its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,205,172 shares of the financial services provider’s stock after selling 146,958 shares during the quarter. Granite Investment Partners LLC’s holdings in OUTFRONT Media were worth $17,234,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI purchased a new stake in shares of OUTFRONT Media during the second quarter valued at approximately $28,000. Riverview Trust Co purchased a new stake in OUTFRONT Media in the first quarter worth $33,000. Quest Partners LLC lifted its stake in OUTFRONT Media by 30.0% in the second quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 994 shares during the period. GAMMA Investing LLC lifted its stake in OUTFRONT Media by 105.2% in the first quarter. GAMMA Investing LLC now owns 3,849 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,973 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in OUTFRONT Media in the fourth quarter worth $143,000.

OUTFRONT Media Stock Performance

Shares of OUTFRONT Media stock opened at $18.07 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.71. The firm has a market capitalization of $3.00 billion, a P/E ratio of -6.79, a P/E/G ratio of 1.10 and a beta of 1.94. The business has a fifty day simple moving average of $16.08 and a two-hundred day simple moving average of $15.44. OUTFRONT Media Inc. has a 12 month low of $8.18 and a 12 month high of $18.65.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.60. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. The firm had revenue of $477.30 million during the quarter, compared to the consensus estimate of $482.27 million. During the same period last year, the company earned $0.47 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts forecast that OUTFRONT Media Inc. will post 1.53 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, September 6th. This represents a $1.20 annualized dividend and a dividend yield of 6.64%. OUTFRONT Media’s payout ratio is presently -45.11%.

Analyst Ratings Changes

A number of brokerages recently commented on OUT. StockNews.com raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their price target on OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen began coverage on OUTFRONT Media in a research note on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price target for the company. Barrington Research raised their price target on OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company assumed coverage on OUTFRONT Media in a research report on Thursday. They set an “overweight” rating and a $22.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, OUTFRONT Media currently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

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.