Penserra Capital Management LLC Increases Stock Position in OUTFRONT Media Inc. (NYSE:OUT)

Penserra Capital Management LLC raised its position in OUTFRONT Media Inc. (NYSE:OUT) by 22.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,451 shares of the financial services provider’s stock after acquiring an additional 12,710 shares during the quarter. Penserra Capital Management LLC’s holdings in OUTFRONT Media were worth $1,258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OUT. Land & Buildings Investment Management LLC purchased a new position in OUTFRONT Media during the 2nd quarter valued at about $22,724,000. Lasalle Investment Management Securities LLC grew its position in shares of OUTFRONT Media by 17.3% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock worth $47,733,000 after buying an additional 419,706 shares during the last quarter. DigitalBridge Group Inc. increased its stake in shares of OUTFRONT Media by 11.7% during the second quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock valued at $44,703,000 after buying an additional 327,125 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of OUTFRONT Media during the third quarter valued at approximately $5,762,000. Finally, First Eagle Investment Management LLC lifted its stake in OUTFRONT Media by 48.5% in the second quarter. First Eagle Investment Management LLC now owns 711,491 shares of the financial services provider’s stock worth $10,174,000 after acquiring an additional 232,300 shares during the period.

Analysts Set New Price Targets

OUT has been the topic of a number of research analyst reports. StockNews.com downgraded shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wells Fargo & Company initiated coverage on shares of OUTFRONT Media in a research note on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wolfe Research downgraded OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 24th. Finally, Barrington Research restated an “outperform” rating and issued a $21.00 target price on shares of OUTFRONT Media in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, OUTFRONT Media presently has an average rating of “Hold” and a consensus price target of $19.25.

OUTFRONT Media Trading Down 0.5 %

NYSE:OUT opened at $19.27 on Wednesday. OUTFRONT Media Inc. has a one year low of $11.98 and a one year high of $19.50. The company’s 50-day simple moving average is $18.37 and its 200 day simple moving average is $16.29. The firm has a market capitalization of $3.20 billion, a P/E ratio of 14.07, a PEG ratio of 1.23 and a beta of 1.94. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65.

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

OUTFRONT Media Cuts Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, November 15th. OUTFRONT Media’s payout ratio is presently 87.59%.

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.