Macquarie Group Ltd. Buys 102,933 Shares of Outfront Media Inc (NYSE:OUT)

Macquarie Group Ltd. lifted its stake in Outfront Media Inc (NYSE:OUT) by 2.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,744,111 shares of the financial services provider’s stock after acquiring an additional 102,933 shares during the period. Macquarie Group Ltd.’s holdings in Outfront Media were worth $96,561,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OUT. Nuveen Asset Management LLC bought a new stake in shares of Outfront Media in the second quarter valued at about $54,299,000. FMR LLC lifted its stake in shares of Outfront Media by 9.9% in the first quarter. FMR LLC now owns 13,276,952 shares of the financial services provider’s stock valued at $310,681,000 after buying an additional 1,200,483 shares during the period. LSV Asset Management lifted its stake in shares of Outfront Media by 52.1% in the second quarter. LSV Asset Management now owns 2,805,889 shares of the financial services provider’s stock valued at $72,363,000 after buying an additional 961,351 shares during the period. Invesco Ltd. lifted its stake in shares of Outfront Media by 212.5% in the second quarter. Invesco Ltd. now owns 1,400,560 shares of the financial services provider’s stock valued at $36,121,000 after buying an additional 952,323 shares during the period. Finally, Morgan Stanley raised its position in Outfront Media by 101.0% in the second quarter. Morgan Stanley now owns 1,616,043 shares of the financial services provider’s stock worth $41,678,000 after purchasing an additional 812,151 shares in the last quarter. Institutional investors and hedge funds own 94.89% of the company’s stock.

NYSE:OUT traded up $0.05 during mid-day trading on Thursday, hitting $27.60. The company’s stock had a trading volume of 11,060 shares, compared to its average volume of 1,181,626. Outfront Media Inc has a fifty-two week low of $16.81 and a fifty-two week high of $28.41. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 3.06. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.43 and a beta of 1.07. The stock has a fifty day moving average of $27.41 and a 200-day moving average of $25.69.

Outfront Media (NYSE:OUT) last posted its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.25). Outfront Media had a return on equity of 14.27% and a net margin of 9.45%. The business had revenue of $459.90 million during the quarter, compared to analyst estimates of $451.73 million. During the same period last year, the company earned ($0.04) EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities analysts anticipate that Outfront Media Inc will post 2.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.22%. The ex-dividend date of this dividend was Thursday, September 5th. Outfront Media’s dividend payout ratio (DPR) is presently 66.98%.

Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Outfront Media from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Saturday, August 10th. Imperial Capital increased their price target on shares of Outfront Media from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $27.85.

About Outfront Media

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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.

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Institutional Ownership by Quarter for Outfront Media (NYSE:OUT)

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