JPMorgan Chase & Co. Acquires 2,153,423 Shares of OUTFRONT Media Inc. (NYSE:OUT)

JPMorgan Chase & Co. raised its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 403.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,687,678 shares of the financial services provider’s stock after acquiring an additional 2,153,423 shares during the quarter. JPMorgan Chase & Co. owned about 1.62% of OUTFRONT Media worth $49,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. raised its stake in shares of OUTFRONT Media by 653.3% during the 3rd quarter. Franklin Resources Inc. now owns 229,872 shares of the financial services provider’s stock valued at $4,260,000 after purchasing an additional 199,356 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of OUTFRONT Media during the third quarter valued at about $318,000. Vestcor Inc lifted its holdings in shares of OUTFRONT Media by 846.4% in the third quarter. Vestcor Inc now owns 113,572 shares of the financial services provider’s stock worth $2,087,000 after buying an additional 101,572 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of OUTFRONT Media in the third quarter worth about $204,000. Finally, Barclays PLC boosted its position in shares of OUTFRONT Media by 43.0% in the third quarter. Barclays PLC now owns 501,439 shares of the financial services provider’s stock valued at $9,218,000 after acquiring an additional 150,669 shares during the period.

OUTFRONT Media Trading Up 0.6 %

Shares of OUT stock opened at $17.64 on Friday. The business has a 50-day moving average price of $18.42 and a two-hundred day moving average price of $17.08. OUTFRONT Media Inc. has a 12-month low of $12.27 and a 12-month high of $19.50. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00. The firm has a market cap of $2.93 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.96.

OUTFRONT Media (NYSE:OUT) last released its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share 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 firm had revenue of $451.90 million during the quarter, compared to the consensus estimate of $456.38 million. During the same quarter in the previous year, the firm earned $0.46 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OUT. StockNews.com lowered shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Wolfe Research downgraded OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their target price on OUTFRONT Media from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company started coverage on OUTFRONT Media in a report on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price target on the stock. Finally, Barrington Research reiterated an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.00.

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.