Weiss Asset Management LP Buys Shares of 81,713 OUTFRONT Media Inc. (NYSE:OUT)

Weiss Asset Management LP acquired a new position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 81,713 shares of the financial services provider's stock, valued at approximately $1,502,000.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its position in shares of OUTFRONT Media by 13.6% during the third quarter. FMR LLC now owns 6,711,791 shares of the financial services provider's stock worth $123,363,000 after purchasing an additional 803,292 shares in the last quarter. DigitalBridge Group Inc. grew its holdings in shares of OUTFRONT Media by 11.7% during the second quarter. DigitalBridge Group Inc. now owns 3,126,062 shares of the financial services provider's stock worth $44,703,000 after buying an additional 327,125 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of OUTFRONT Media by 10.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,137,548 shares of the financial services provider's stock valued at $30,567,000 after buying an additional 210,208 shares during the last quarter. Land & Buildings Investment Management LLC purchased a new position in shares of OUTFRONT Media in the second quarter worth about $22,724,000. Finally, ZWJ Investment Counsel Inc. boosted its position in OUTFRONT Media by 2.7% during the third quarter. ZWJ Investment Counsel Inc. now owns 1,446,420 shares of the financial services provider's stock worth $26,585,000 after acquiring an additional 38,327 shares during the last quarter.

OUTFRONT Media Trading Up 0.2 %

Shares of OUTFRONT Media stock traded up $0.04 during trading hours on Friday, hitting $18.95. The company's stock had a trading volume of 2,720,712 shares, compared to its average volume of 2,108,211. The company has a debt-to-equity ratio of 4.00, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a fifty day moving average of $18.54 and a 200-day moving average of $16.54. OUTFRONT Media Inc. has a twelve month low of $12.13 and a twelve month high of $19.50. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.22 and a beta of 1.96.

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

OUTFRONT Media Cuts Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, November 15th. OUTFRONT Media's dividend payout ratio (DPR) is 87.59%.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com downgraded shares of OUTFRONT Media from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Wolfe Research cut OUTFRONT Media from an "outperform" rating to a "peer perform" rating in a report on Thursday, October 24th. Barrington Research reiterated an "outperform" rating and set a $21.00 price objective on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company began coverage on OUTFRONT Media in a report on Thursday, September 19th. They issued an "overweight" rating and a $22.00 target price for the company. Four 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, the stock currently has an average rating of "Hold" and an average target price of $19.25.

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.