JPMorgan Chase & Co. Grows Position in OUTFRONT Media Inc. (NYSE:OUT)

JPMorgan Chase & Co. boosted its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 403.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,687,678 shares of the financial services provider's stock after purchasing an additional 2,153,423 shares during the quarter. JPMorgan Chase & Co. owned about 1.62% of OUTFRONT Media worth $49,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Land & Buildings Investment Management LLC bought a new stake in shares of OUTFRONT Media in the second quarter worth about $22,724,000. Point72 Asset Management L.P. bought a new stake in OUTFRONT Media in the 3rd quarter worth approximately $24,552,000. FMR LLC raised its holdings in shares of OUTFRONT Media by 13.6% during the 3rd quarter. FMR LLC now owns 6,711,791 shares of the financial services provider's stock worth $123,363,000 after acquiring an additional 803,292 shares in the last quarter. DigitalBridge Group Inc. boosted its position in shares of 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 acquiring an additional 327,125 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of OUTFRONT Media in the third quarter valued at $5,762,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on OUT shares. Wolfe Research downgraded shares of OUTFRONT Media from an "outperform" rating to a "peer perform" rating in a research note on Thursday, October 24th. StockNews.com downgraded shares of OUTFRONT Media from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Wells Fargo & Company began coverage on OUTFRONT Media in a research note on Thursday, September 19th. They set an "overweight" rating and a $22.00 price objective on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, November 13th. Finally, Morgan Stanley boosted their target price on OUTFRONT Media from $17.00 to $18.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, OUTFRONT Media has a consensus rating of "Hold" and an average target price of $19.00.

OUTFRONT Media Trading Up 0.6 %

Shares of NYSE:OUT traded up $0.11 during trading hours on Friday, hitting $17.64. 1,639,888 shares of the company's stock traded hands, compared to its average volume of 1,368,044. The firm has a market capitalization of $2.93 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.96. The business has a fifty day moving average price of $18.42 and a 200-day moving average price of $17.11. OUTFRONT Media Inc. has a 1 year low of $12.27 and a 1 year high of $19.50. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.20). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The business had revenue of $451.90 million for the quarter, compared to analysts' expectations of $456.38 million. During the same quarter in the previous year, the firm earned $0.46 EPS. OUTFRONT Media's revenue was down .6% compared to the same quarter last year. Equities analysts expect that OUTFRONT Media Inc. will post 1.56 earnings per share for the current year.

OUTFRONT Media Cuts Dividend

The business also recently declared a special dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 15th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, November 15th. OUTFRONT Media's dividend payout ratio is presently 87.59%.

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