Quarry LP Raises Holdings in OUTFRONT Media Inc. (NYSE:OUT)

Quarry LP grew its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 258.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,837 shares of the financial services provider’s stock after purchasing an additional 1,325 shares during the period. Quarry LP’s holdings in OUTFRONT Media were worth $26,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OUT. Gabelli Funds LLC raised its position in OUTFRONT Media by 1.1% in the 4th quarter. Gabelli Funds LLC now owns 88,500 shares of the financial services provider’s stock worth $1,235,000 after buying an additional 1,000 shares during the last quarter. III Capital Management raised its holdings in shares of OUTFRONT Media by 45.0% during the fourth quarter. III Capital Management now owns 145,000 shares of the financial services provider’s stock valued at $2,024,000 after purchasing an additional 45,000 shares during the last quarter. Brevan Howard Capital Management LP lifted its position in OUTFRONT Media by 23.4% during the fourth quarter. Brevan Howard Capital Management LP now owns 81,767 shares of the financial services provider’s stock valued at $1,141,000 after purchasing an additional 15,511 shares during the period. Wellington Management Group LLP grew its position in OUTFRONT Media by 6.0% in the 4th quarter. Wellington Management Group LLP now owns 3,027,771 shares of the financial services provider’s stock worth $42,268,000 after purchasing an additional 170,744 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in OUTFRONT Media by 48.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 60,438 shares of the financial services provider’s stock valued at $1,015,000 after buying an additional 19,682 shares during the last quarter.

OUTFRONT Media Price Performance

NYSE OUT opened at $18.01 on Tuesday. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -6.77, a PEG ratio of 1.21 and a beta of 1.94. OUTFRONT Media Inc. has a 12 month low of $8.20 and a 12 month high of $18.89. The company’s 50 day moving average is $16.72 and its two-hundred day moving average is $15.63. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.71.

OUTFRONT Media (NYSE:OUT) last released its earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share 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 company had revenue of $477.30 million for the quarter, compared to analysts’ expectations of $482.27 million. During the same quarter in the previous year, the company earned $0.47 EPS. OUTFRONT Media’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 1.53 earnings per share for the current year.

OUTFRONT Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.66%. The ex-dividend date of this dividend was Friday, September 6th. OUTFRONT Media’s dividend payout ratio is currently -45.11%.

Analyst Ratings Changes

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

OUTFRONT Media Company 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.