Mirae Asset Global Investments Co. Ltd. increased its holdings in Outfront Media Inc. (NYSE:OUT – Get Rating) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 62,796 shares of the financial services provider’s stock after buying an additional 1,083 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Outfront Media were worth $1,041,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Outfront Media in the 1st quarter worth about $28,000. Quantbot Technologies LP bought a new position in shares of Outfront Media in the 1st quarter worth about $41,000. CWM LLC increased its stake in shares of Outfront Media by 86.6% in the 4th quarter. CWM LLC now owns 1,726 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 801 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Outfront Media in the 2nd quarter worth about $80,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Outfront Media in the 1st quarter worth about $206,000.
Wall Street Analyst Weigh In
OUT has been the subject of several research reports. Barrington Research reiterated an “outperform” rating and issued a $24.00 price target on shares of Outfront Media in a research note on Thursday, February 23rd. Citigroup reduced their price objective on shares of Outfront Media from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, February 27th. StockNews.com lowered shares of Outfront Media from a “hold” rating to a “sell” rating in a research note on Friday, May 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Outfront Media from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.75.
Outfront Media Stock Performance
Shares of OUT stock opened at $14.33 on Tuesday. The company has a 50 day moving average price of $15.41 and a 200-day moving average price of $17.02. Outfront Media Inc. has a 52 week low of $13.87 and a 52 week high of $21.65. The firm has a market capitalization of $2.36 billion, a PE ratio of 21.71, a P/E/G ratio of 0.85 and a beta of 1.70. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.30.
Outfront Media Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be paid a $0.30 dividend. The ex-dividend date is Thursday, June 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.37%. Outfront Media’s dividend payout ratio is presently 181.82%.
About Outfront Media
OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.
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