Norges Bank Acquires New Stake in OUTFRONT Media Inc. (NYSE:OUT)

Norges Bank acquired a new stake in OUTFRONT Media Inc. (NYSE:OUTFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 987,000 shares of the financial services provider’s stock, valued at approximately $13,779,000. Norges Bank owned about 0.60% of OUTFRONT Media at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OUT. FMR LLC grew its position in OUTFRONT Media by 50.8% in the 3rd quarter. FMR LLC now owns 6,300,057 shares of the financial services provider’s stock valued at $63,631,000 after buying an additional 2,122,950 shares during the last quarter. Invesco Ltd. grew its position in OUTFRONT Media by 39.5% in the 3rd quarter. Invesco Ltd. now owns 4,543,787 shares of the financial services provider’s stock valued at $45,892,000 after buying an additional 1,285,752 shares during the last quarter. Lasalle Investment Management Securities LLC grew its position in OUTFRONT Media by 80.9% in the 3rd quarter. Lasalle Investment Management Securities LLC now owns 2,849,449 shares of the financial services provider’s stock valued at $28,779,000 after buying an additional 1,273,878 shares during the last quarter. Rush Island Management LP purchased a new position in OUTFRONT Media in the 3rd quarter valued at $12,117,000. Finally, DAVENPORT & Co LLC purchased a new position in OUTFRONT Media in the 4th quarter valued at $9,774,000.

Analysts Set New Price Targets

OUT has been the topic of several research analyst reports. Barrington Research restated an “outperform” rating and set a $17.00 target price on shares of OUTFRONT Media in a research report on Tuesday, May 28th. TheStreet upgraded shares of OUTFRONT Media from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Finally, StockNews.com upgraded shares of OUTFRONT Media from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.75.

View Our Latest Report on OUT

OUTFRONT Media Price Performance

OUTFRONT Media stock opened at $14.32 on Tuesday. OUTFRONT Media Inc. has a 52 week low of $8.18 and a 52 week high of $17.02. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 5.08. The firm’s 50-day simple moving average is $15.38 and its 200 day simple moving average is $14.37. The firm has a market capitalization of $2.38 billion, a PE ratio of -5.38, a P/E/G ratio of 0.93 and a beta of 1.91.

OUTFRONT Media Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 8.38%. The ex-dividend date is Friday, June 7th. OUTFRONT Media’s payout ratio is -45.11%.

About OUTFRONT Media

(Free Report)

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.

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

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