JPMorgan Chase & Co. Purchases 51,496 Shares of Outfront Media Inc. (OUT)
JPMorgan Chase & Co. increased its position in Outfront Media Inc. (NYSE:OUT) by 0.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,182,461 shares of the company’s stock after buying an additional 51,496 shares during the period. JPMorgan Chase & Co. owned 0.07% of Outfront Media worth $217,166,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of OUT. Checchi Capital Advisers LLC boosted its position in shares of Outfront Media by 46.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,142 shares of the company’s stock worth $100,000 after buying an additional 1,317 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Outfront Media by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 4,449 shares of the company’s stock worth $105,000 after buying an additional 18 shares in the last quarter. Societe Generale bought a new position in shares of Outfront Media during the second quarter worth $111,000. SG Americas Securities LLC bought a new position in shares of Outfront Media during the second quarter worth $111,000. Finally, Advisory Services Network LLC boosted its position in shares of Outfront Media by 33.0% in the second quarter. Advisory Services Network LLC now owns 4,986 shares of the company’s stock worth $121,000 after buying an additional 1,236 shares in the last quarter.
Shares of Outfront Media Inc. (NYSE:OUT) opened at 25.21 on Thursday. Outfront Media Inc. has a one year low of $18.01 and a one year high of $25.32. The stock’s 50 day moving average price is $22.27 and its 200 day moving average price is $22.70. The firm’s market capitalization is $3.48 billion.
Outfront Media (NYSE:OUT) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.25. Outfront Media had a negative net margin of 0.63% and a negative return on equity of 0.79%. The firm had revenue of $382.80 million for the quarter, compared to analyst estimates of $382.38 million. During the same period last year, the company earned $0.50 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. Analysts expect that Outfront Media Inc. will post $0.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Wednesday, December 7th. Outfront Media’s dividend payout ratio (DPR) is presently -1,942.58%.
A number of equities analysts recently weighed in on OUT shares. Zacks Investment Research raised Outfront Media from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, November 9th. Loop Capital started coverage on Outfront Media in a research note on Monday, September 12th. They issued a “hold” rating and a $23.00 price target on the stock. Finally, Wells Fargo & Co. raised Outfront Media from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $23.00 to $28.00 in a research note on Tuesday, November 22nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.29.
In other news, CFO Donald R. Shassian purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were acquired at an average price of $21.90 per share, with a total value of $109,500.00. Following the completion of the purchase, the chief financial officer now directly owns 137,438 shares of the company’s stock, valued at approximately $3,009,892.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Sriubas purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average cost of $20.88 per share, for a total transaction of $125,280.00. Following the purchase, the executive vice president now directly owns 19,319 shares of the company’s stock, valued at $403,380.72. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
About Outfront Media
OUTFRONT Media Inc, formerly CBS Outdoor Americas Inc, is a provider of advertising space on out-of-home advertising structures and sites across the United States, Canada and Latin America. The Company’s inventory consists of billboard displays and transit advertising displays. It operates through two segments.
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