Peregrine Capital Management LLC lifted its position in shares of Outfront Media Inc (NYSE:OUT) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,187 shares of the financial services provider’s stock after acquiring an additional 61,386 shares during the quarter. Peregrine Capital Management LLC owned 0.21% of Outfront Media worth $4,395,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in OUT. Eminence Capital LP purchased a new stake in shares of Outfront Media during the 1st quarter worth approximately $48,961,000. ValueAct Holdings L.P. boosted its stake in shares of Outfront Media by 820.3% during the 1st quarter. ValueAct Holdings L.P. now owns 3,427,200 shares of the financial services provider’s stock worth $46,199,000 after acquiring an additional 3,054,800 shares in the last quarter. P2 Capital Partners LLC purchased a new stake in shares of Outfront Media during the 1st quarter worth approximately $30,375,000. Norges Bank purchased a new stake in shares of Outfront Media during the 4th quarter worth approximately $45,311,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Outfront Media by 153.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,114,074 shares of the financial services provider’s stock worth $29,956,000 after acquiring an additional 1,280,983 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of OUT opened at $14.41 on Friday. The stock has a fifty day moving average of $14.68 and a two-hundred day moving average of $18.53. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $2.08 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.49. Outfront Media Inc has a fifty-two week low of $7.07 and a fifty-two week high of $31.20.
Several equities research analysts have recently commented on OUT shares. JPMorgan Chase & Co. decreased their price target on Outfront Media from $26.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, April 13th. Citigroup upped their target price on Outfront Media from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. ValuEngine raised Outfront Media from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Morgan Stanley upped their target price on Outfront Media from $13.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, June 22nd. Finally, Barrington Research reaffirmed a “buy” rating and issued a $17.00 target price on shares of Outfront Media in a research note on Friday, May 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $18.00.
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 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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