Deroy & Devereaux Private Investment Counsel Inc. raised its stake in Outfront Media Inc (NYSE:OUT) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,275 shares of the financial services provider’s stock after acquiring an additional 700 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Outfront Media were worth $2,897,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank raised its holdings in shares of Outfront Media by 1,098.2% during the 2nd quarter. Huntington National Bank now owns 1,342 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,230 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Outfront Media during the 2nd quarter worth $41,000. Marshall Wace North America L.P. acquired a new position in shares of Outfront Media during the 1st quarter worth $44,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Outfront Media during the 2nd quarter worth $45,000. Finally, Stevens First Principles Investment Advisors acquired a new position in shares of Outfront Media during the 2nd quarter worth $68,000. 94.89% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on OUT shares. ValuEngine cut Outfront Media from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Imperial Capital boosted their price target on Outfront Media from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Zacks Investment Research cut Outfront Media from a “buy” rating to a “sell” rating and set a $29.00 price target for the company. in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.48.
Outfront Media (NYSE:OUT) last issued its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.25). The firm had revenue of $459.90 million for the quarter, compared to the consensus estimate of $451.73 million. Outfront Media had a return on equity of 14.27% and a net margin of 9.45%. The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. As a group, analysts anticipate that Outfront Media Inc will post 2.19 earnings per share for the current fiscal year.
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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