Geode Capital Management LLC Sells 48,870 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Geode Capital Management LLC cut its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 1.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,573,592 shares of the financial services provider’s stock after selling 48,870 shares during the period. Geode Capital Management LLC’s holdings in OUTFRONT Media were worth $65,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Asset Management One Co. Ltd. lifted its position in shares of OUTFRONT Media by 39,437.3% during the third quarter. Asset Management One Co. Ltd. now owns 196,896 shares of the financial services provider’s stock worth $3,619,000 after acquiring an additional 196,398 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in OUTFRONT Media by 48.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 711,491 shares of the financial services provider’s stock worth $10,174,000 after purchasing an additional 232,300 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in OUTFRONT Media by 30.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 650,000 shares of the financial services provider’s stock valued at $9,295,000 after buying an additional 150,000 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of OUTFRONT Media during the third quarter valued at about $5,762,000. Finally, Edgestream Partners L.P. bought a new stake in shares of OUTFRONT Media during the second quarter valued at about $1,293,000.

OUTFRONT Media Price Performance

OUT opened at $18.18 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 4.00. The stock has a market capitalization of $3.02 billion, a P/E ratio of 13.27, a PEG ratio of 1.20 and a beta of 1.96. The stock has a 50-day moving average price of $18.61 and a 200-day moving average price of $16.83. OUTFRONT Media Inc. has a 12-month low of $12.27 and a 12-month high of $19.50.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.20). The firm had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS. Equities analysts predict that OUTFRONT Media Inc. will post 1.56 earnings per share for the current fiscal year.

OUTFRONT Media Cuts Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 15th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s payout ratio is presently 87.59%.

Wall Street Analyst Weigh In

Several brokerages recently commented on OUT. StockNews.com cut shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Barrington Research restated an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Wells Fargo & Company started coverage on OUTFRONT Media in a research report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price objective on the stock. Wolfe Research cut OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley lifted their price target on OUTFRONT Media from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.00.

OUTFRONT Media Company 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.