Allspring Global Investments Holdings LLC Cuts Holdings in Outfront Media Inc. (NYSE:OUT)

Allspring Global Investments Holdings LLC trimmed its position in Outfront Media Inc. (NYSE:OUTGet Rating) by 53.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,210 shares of the financial services provider’s stock after selling 197,088 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of Outfront Media worth $2,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of OUT. Goldman Sachs Group Inc. boosted its stake in Outfront Media by 244.0% in the first quarter. Goldman Sachs Group Inc. now owns 3,592,568 shares of the financial services provider’s stock valued at $102,137,000 after acquiring an additional 2,548,117 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Outfront Media by 54.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,620,619 shares of the financial services provider’s stock valued at $44,419,000 after purchasing an additional 919,728 shares during the period. Centersquare Investment Management LLC lifted its position in Outfront Media by 37.3% during the first quarter. Centersquare Investment Management LLC now owns 2,716,268 shares of the financial services provider’s stock valued at $77,224,000 after purchasing an additional 737,670 shares during the period. Invesco Ltd. lifted its position in Outfront Media by 23.8% during the first quarter. Invesco Ltd. now owns 3,788,625 shares of the financial services provider’s stock valued at $107,710,000 after purchasing an additional 728,105 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Outfront Media in the first quarter valued at $19,094,000.

Analyst Ratings Changes

OUT has been the subject of a number of recent analyst reports. StockNews.com cut shares of Outfront Media from a “hold” rating to a “sell” rating in a report on Friday, November 4th. Morgan Stanley cut their target price on shares of Outfront Media from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, December 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.25.

Outfront Media Stock Down 1.9 %

OUT stock opened at $18.69 on Thursday. Outfront Media Inc. has a 52 week low of $14.97 and a 52 week high of $29.36. The stock has a market capitalization of $3.07 billion, a P/E ratio of 21.24, a P/E/G ratio of 0.93 and a beta of 1.64. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.17. The firm has a 50-day simple moving average of $17.58 and a 200-day simple moving average of $17.58.

Outfront Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 2nd were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, December 1st. This represents a $1.20 annualized dividend and a yield of 6.42%. Outfront Media’s dividend payout ratio is presently 136.37%.

Outfront Media Company Profile

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Outfront Media Inc 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 Media Inc will fundamentally change the ways advertisers engage audiences on-the-go.

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Institutional Ownership by Quarter for Outfront Media (NYSE:OUT)

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