Mackenzie Financial Corp Makes New Investment in OUTFRONT Media Inc. (NYSE:OUT)

Mackenzie Financial Corp acquired a new stake in OUTFRONT Media Inc. (NYSE:OUT) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 16,069 shares of the financial services provider’s stock, valued at approximately $230,000.

A number of other large investors also recently modified their holdings of the company. Millennium Management LLC increased its position in shares of OUTFRONT Media by 7.9% in the 2nd quarter. Millennium Management LLC now owns 1,304,725 shares of the financial services provider’s stock valued at $18,658,000 after purchasing an additional 94,997 shares during the last quarter. Dark Forest Capital Management LP increased its position in shares of OUTFRONT Media by 3.0% in the 2nd quarter. Dark Forest Capital Management LP now owns 25,133 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 738 shares during the last quarter. DigitalBridge Group Inc. increased its position in shares of OUTFRONT Media by 11.7% in the 2nd quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock valued at $44,703,000 after purchasing an additional 327,125 shares during the last quarter. AQR Capital Management LLC increased its position in shares of OUTFRONT Media by 90.3% in the 2nd quarter. AQR Capital Management LLC now owns 245,952 shares of the financial services provider’s stock valued at $3,458,000 after purchasing an additional 116,741 shares during the last quarter. Finally, AXA S.A. grew its position in shares of OUTFRONT Media by 47.6% in the 2nd quarter. AXA S.A. now owns 188,055 shares of the financial services provider’s stock valued at $2,689,000 after buying an additional 60,630 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen assumed coverage on shares of OUTFRONT Media in a research report on Tuesday, July 16th. They issued a “hold” rating and a $16.00 target price on the stock. StockNews.com raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research report on Friday, August 30th. Barrington Research increased their target price on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company assumed coverage on shares of OUTFRONT Media in a research report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

OUTFRONT Media Trading Down 0.5 %

Shares of OUTFRONT Media stock opened at $18.01 on Tuesday. OUTFRONT Media Inc. has a 1 year low of $8.20 and a 1 year high of $18.89. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $2.99 billion, a P/E ratio of -6.77, a PEG ratio of 1.21 and a beta of 1.94. The company’s fifty day moving average is $16.72 and its two-hundred day moving average is $15.63.

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

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.66%. The ex-dividend date was 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.