OUTFRONT Media Inc. (NYSE:OUT) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC reduced its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 13.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 481,170 shares of the financial services provider’s stock after selling 75,962 shares during the period. Verition Fund Management LLC’s holdings in OUTFRONT Media were worth $8,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Land & Buildings Investment Management LLC purchased a new stake in shares of OUTFRONT Media during the second quarter valued at $22,724,000. FMR LLC grew its stake in OUTFRONT Media by 13.6% during the 3rd quarter. FMR LLC now owns 6,711,791 shares of the financial services provider’s stock valued at $123,363,000 after purchasing an additional 803,292 shares during the last quarter. DigitalBridge Group Inc. grew its stake in OUTFRONT Media by 11.7% during the 2nd quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider’s stock valued at $44,703,000 after purchasing an additional 327,125 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of OUTFRONT Media in the third quarter valued at about $5,762,000. Finally, First Eagle Investment Management LLC raised its stake in shares of OUTFRONT Media by 48.5% in the second quarter. First Eagle Investment Management LLC now owns 711,491 shares of the financial services provider’s stock worth $10,174,000 after purchasing an additional 232,300 shares during the last quarter.

OUTFRONT Media Price Performance

NYSE:OUT opened at $19.21 on Monday. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65. The company has a 50 day moving average price of $18.48 and a 200-day moving average price of $16.40. OUTFRONT Media Inc. has a 1-year low of $11.98 and a 1-year high of $19.50. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.94.

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

OUTFRONT Media Cuts Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, December 31st. Investors 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 payout ratio is 87.59%.

Analysts Set New Price Targets

OUT has been the topic of a number of recent research reports. Wolfe Research downgraded shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 24th. StockNews.com lowered shares of OUTFRONT Media from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Wells Fargo & Company assumed 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 for the company. Finally, Barrington Research reaffirmed an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.25.

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.