Verition Fund Management LLC Sells 75,962 Shares of OUTFRONT Media Inc. (NYSE:OUT)

Verition Fund Management LLC lowered its stake in shares of OUTFRONT Media Inc. (NYSE:OUT) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 481,170 shares of the financial services provider’s stock after selling 75,962 shares during the quarter. Verition Fund Management LLC owned 0.29% of OUTFRONT Media worth $8,844,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of OUT. Price T Rowe Associates Inc. MD grew its holdings in OUTFRONT Media by 6.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,246 shares of the financial services provider’s stock valued at $1,482,000 after purchasing an additional 5,357 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of OUTFRONT Media during the 1st quarter worth approximately $218,000. Contravisory Investment Management Inc. purchased a new position in OUTFRONT Media during the 2nd quarter valued at $210,000. SG Americas Securities LLC grew its position in OUTFRONT Media by 266.2% in the 2nd quarter. SG Americas Securities LLC now owns 48,711 shares of the financial services provider’s stock valued at $697,000 after acquiring an additional 35,409 shares during the last quarter. Finally, M&G Plc purchased a new stake in OUTFRONT Media in the second quarter worth $152,000.

Analyst Ratings Changes

OUT has been the topic of a number of research analyst reports. Barrington Research restated an “outperform” rating and issued a $21.00 price target on shares of OUTFRONT Media in a report on Wednesday, November 13th. Wells Fargo & Company began coverage on shares of OUTFRONT Media in a research report on Thursday, September 19th. They set an “overweight” rating and a $22.00 target price on the stock. StockNews.com downgraded shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Wolfe Research cut OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, OUTFRONT Media presently has a consensus rating of “Hold” and an average price target of $19.25.

OUTFRONT Media Price Performance

NYSE OUT opened at $19.21 on Monday. The company has a market cap of $3.19 billion, a PE ratio of 14.02, a P/E/G ratio of 1.23 and a beta of 1.94. The firm’s 50 day moving average price is $18.48 and its 200-day moving average price is $16.40. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. OUTFRONT Media Inc. has a 52-week low of $11.98 and a 52-week high of $19.50.

OUTFRONT Media (NYSE:OUT) last announced its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.20). The company had revenue of $451.90 million for the quarter, compared to the consensus estimate of $456.38 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. Sell-side analysts forecast that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 15th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is presently 87.59%.

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.