Shares of Outfront Media Inc (NYSE:OUT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.16 and last traded at $23.87, with a volume of 28164 shares changing hands. The stock had previously closed at $23.86.
OUT has been the topic of several recent research reports. Citigroup cut Outfront Media from a “buy” rating to a “neutral” rating and set a $20.81 target price on the stock. in a research report on Thursday, January 31st. Zacks Investment Research cut Outfront Media from a “buy” rating to a “hold” rating in a research report on Monday, January 28th. Barrington Research reaffirmed a “buy” rating and set a $25.00 target price on shares of Outfront Media in a research report on Wednesday, February 27th. ValuEngine raised Outfront Media from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Finally, CIBC initiated coverage on Outfront Media in a research report on Friday, March 29th. They set an “outperform” rating and a $30.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $24.98.
The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.88. The stock has a market cap of $3.38 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.43 and a beta of 1.27.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.44 annualized dividend and a dividend yield of 6.03%. Outfront Media’s dividend payout ratio is presently 66.98%.
In other news, CEO Jeremy J. Male sold 80,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.54, for a total transaction of $1,883,200.00. Following the completion of the sale, the chief executive officer now owns 392,703 shares in the company, valued at approximately $9,244,228.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of OUT. Cohen & Steers Inc. purchased a new stake in shares of Outfront Media during the 3rd quarter valued at $130,519,000. Norges Bank purchased a new position in Outfront Media in the 4th quarter worth $27,335,000. Millennium Management LLC raised its stake in Outfront Media by 339.2% in the 4th quarter. Millennium Management LLC now owns 1,941,788 shares of the financial services provider’s stock worth $35,185,000 after acquiring an additional 1,499,713 shares during the last quarter. Vanguard Group Inc raised its stake in Outfront Media by 6.6% in the 3rd quarter. Vanguard Group Inc now owns 19,594,607 shares of the financial services provider’s stock worth $390,912,000 after acquiring an additional 1,216,208 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Outfront Media by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 19,594,607 shares of the financial services provider’s stock worth $390,912,000 after acquiring an additional 1,216,208 shares during the last quarter. Hedge funds and other institutional investors own 96.46% of the company’s stock.
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About Outfront Media (NYSE:OUT)
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 ON Smart Media platform, OUTFRONT is implementing digital technology that will fundamentally change the ways advertisers engage audiences on-the-go.
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