Sumitomo Mitsui DS Asset Management Company Ltd Takes Position in OUTFRONT Media Inc. (NYSE:OUT)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in OUTFRONT Media Inc. (NYSE:OUT) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 24,729 shares of the financial services provider’s stock, valued at approximately $455,000.

Other hedge funds have also recently bought and sold shares of the company. Dark Forest Capital Management LP raised its holdings in shares of OUTFRONT Media by 3.0% in the 2nd quarter. Dark Forest Capital Management LP now owns 25,133 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 738 shares in the last quarter. Quest Partners LLC boosted its stake in shares of OUTFRONT Media by 30.0% during the 2nd quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 994 shares in the last quarter. CWM LLC grew its holdings in shares of OUTFRONT Media by 18.5% in the 3rd quarter. CWM LLC now owns 7,683 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 1,199 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of OUTFRONT Media by 5.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 23,222 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 1,220 shares during the period. Finally, Quarry LP lifted its holdings in shares of OUTFRONT Media by 258.8% during the second quarter. Quarry LP now owns 1,837 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,325 shares during the last quarter.

OUTFRONT Media Price Performance

Shares of NYSE:OUT opened at $18.63 on Wednesday. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -7.00, a P/E/G ratio of 1.20 and a beta of 1.94. OUTFRONT Media Inc. has a 1 year low of $9.00 and a 1 year high of $19.33. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.71. The business has a fifty day simple moving average of $17.49 and a 200 day simple moving average of $15.80.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.60. The business had revenue of $477.30 million during the quarter, compared to analyst estimates of $482.27 million. OUTFRONT Media had a return on equity of 37.83% and a net margin of 12.32%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS. As a group, sell-side analysts predict that OUTFRONT Media Inc. will post 1.53 earnings per share for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date was Friday, September 6th. OUTFRONT Media’s payout ratio is -45.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. StockNews.com raised OUTFRONT Media from a “hold” rating to a “buy” rating in a research note on Saturday. TD Cowen began coverage on shares of OUTFRONT Media in a research note on Tuesday, July 16th. They set a “hold” rating and a $16.00 target price on the stock. Barrington Research raised their target price on OUTFRONT Media from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. upped their price target on OUTFRONT Media from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company started coverage on OUTFRONT Media in a research note on Thursday, September 19th. They issued an “overweight” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

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