Granite Investment Partners LLC Sells 146,958 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Granite Investment Partners LLC cut its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,205,172 shares of the financial services provider’s stock after selling 146,958 shares during the period. Granite Investment Partners LLC owned 0.73% of OUTFRONT Media worth $17,234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of OUTFRONT Media by 6.0% during the fourth quarter. Wellington Management Group LLP now owns 3,027,771 shares of the financial services provider’s stock valued at $42,268,000 after buying an additional 170,744 shares during the period. Lasalle Investment Management Securities LLC increased its position in shares of OUTFRONT Media by 17.3% during the first quarter. Lasalle Investment Management Securities LLC now owns 2,842,935 shares of the financial services provider’s stock valued at $47,733,000 after buying an additional 419,706 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of OUTFRONT Media by 10.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,137,548 shares of the financial services provider’s stock valued at $30,567,000 after buying an additional 210,208 shares during the period. Dimensional Fund Advisors LP increased its position in shares of OUTFRONT Media by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,067,826 shares of the financial services provider’s stock valued at $28,869,000 after buying an additional 44,534 shares during the period. Finally, DAVENPORT & Co LLC increased its position in shares of OUTFRONT Media by 145.8% during the first quarter. DAVENPORT & Co LLC now owns 1,720,884 shares of the financial services provider’s stock valued at $28,825,000 after buying an additional 1,020,719 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of OUTFRONT Media in a research report on Thursday. They issued an “overweight” rating and a $22.00 price objective on the stock. TD Cowen began coverage on shares of OUTFRONT Media in a research report on Tuesday, July 16th. They issued a “hold” rating and a $16.00 price objective on the stock. Barrington Research upped their price objective on shares of OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Finally, StockNews.com upgraded shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.20.

OUTFRONT Media Stock Up 2.4 %

Shares of NYSE OUT opened at $18.07 on Friday. OUTFRONT Media Inc. has a one year low of $8.18 and a one year high of $18.65. The company has a debt-to-equity ratio of 3.71, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50 day simple moving average is $16.08 and its two-hundred day simple moving average is $15.44. The stock has a market capitalization of $3.00 billion, a P/E ratio of -6.79, a PEG ratio of 1.10 and a beta of 1.94.

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

OUTFRONT Media Dividend Announcement

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

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.