Nordea Investment Management AB Raises Position in OUTFRONT Media Inc. $OUT

Nordea Investment Management AB lifted its stake in OUTFRONT Media Inc. (NYSE:OUT) by 41.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 474,055 shares of the financial services provider’s stock after purchasing an additional 140,060 shares during the quarter. Nordea Investment Management AB owned about 0.28% of OUTFRONT Media worth $8,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its position in OUTFRONT Media by 8.3% in the third quarter. CWM LLC now owns 8,229 shares of the financial services provider’s stock worth $151,000 after buying an additional 631 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of OUTFRONT Media by 1.8% in the second quarter. Maryland State Retirement & Pension System now owns 40,753 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 740 shares during the period. Bank of Montreal Can lifted its holdings in shares of OUTFRONT Media by 2.1% in the 2nd quarter. Bank of Montreal Can now owns 36,066 shares of the financial services provider’s stock worth $589,000 after acquiring an additional 758 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of OUTFRONT Media by 1.6% in the 2nd quarter. Yousif Capital Management LLC now owns 51,633 shares of the financial services provider’s stock worth $843,000 after acquiring an additional 791 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of OUTFRONT Media by 2.2% during the 2nd quarter. Assetmark Inc. now owns 42,908 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 909 shares during the period.

Insiders Place Their Bets

In other OUTFRONT Media news, Director Manuel A. Diaz sold 11,270 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $22.18, for a total transaction of $249,968.60. Following the sale, the director owned 58,786 shares of the company’s stock, valued at approximately $1,303,873.48. This trade represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OUT has been the subject of several analyst reports. New Street Research set a $24.00 price objective on shares of OUTFRONT Media in a research note on Tuesday, November 11th. JPMorgan Chase & Co. raised OUTFRONT Media from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $25.00 in a research note on Wednesday, November 12th. Barrington Research reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research report on Friday, November 7th. Wells Fargo & Company reiterated an “overweight” rating and issued a $27.00 target price (up previously from $23.00) on shares of OUTFRONT Media in a research note on Thursday, December 18th. Finally, Wall Street Zen raised shares of OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.57.

OUTFRONT Media Stock Performance

OUT stock opened at $25.23 on Friday. OUTFRONT Media Inc. has a 1-year low of $12.95 and a 1-year high of $25.25. The business has a 50-day moving average price of $23.41 and a 200 day moving average price of $19.92. The company has a market capitalization of $4.22 billion, a P/E ratio of 37.10, a PEG ratio of 1.23 and a beta of 1.57. The company has a debt-to-equity ratio of 4.75, a current ratio of 0.79 and a quick ratio of 0.79.

OUTFRONT Media (NYSE:OUT) last issued its earnings results on Thursday, November 6th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.21). OUTFRONT Media had a return on equity of 21.56% and a net margin of 6.86%.The business had revenue of $467.50 million for the quarter, compared to the consensus estimate of $458.32 million. During the same quarter in the previous year, the company earned $0.19 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts forecast that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 5th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.20 dividend on an annualized basis and a yield of 4.8%. OUTFRONT Media’s payout ratio is 176.47%.

OUTFRONT Media Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.