Nordea Investment Management AB Cuts Stock Holdings in Outfront Media Inc (NYSE:OUT)

Nordea Investment Management AB trimmed its position in shares of Outfront Media Inc (NYSE:OUT) by 40.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,000 shares of the financial services provider’s stock after selling 92,062 shares during the period. Nordea Investment Management AB owned approximately 0.10% of Outfront Media worth $3,229,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in OUT. Vanguard Group Inc grew its stake in Outfront Media by 6.6% during the third quarter. Vanguard Group Inc now owns 19,594,607 shares of the financial services provider’s stock worth $390,912,000 after buying an additional 1,216,208 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Outfront Media by 21.7% in the 4th quarter. Advisors Asset Management Inc. now owns 131,071 shares of the financial services provider’s stock valued at $2,375,000 after purchasing an additional 23,350 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Outfront Media by 7.4% in the 4th quarter. Rhumbline Advisers now owns 154,564 shares of the financial services provider’s stock valued at $2,801,000 after purchasing an additional 10,702 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Outfront Media by 64.5% in the 4th quarter. Prudential Financial Inc. now owns 135,486 shares of the financial services provider’s stock valued at $2,455,000 after purchasing an additional 53,100 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Outfront Media by 56.0% in the 4th quarter. LPL Financial LLC now owns 32,259 shares of the financial services provider’s stock valued at $585,000 after purchasing an additional 11,574 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

NYSE OUT traded down $0.32 during trading hours on Thursday, reaching $26.21. The company’s stock had a trading volume of 548,430 shares, compared to its average volume of 1,028,739. The company’s fifty day simple moving average is $25.84. The firm has a market capitalization of $3.76 billion, a PE ratio of 12.19, a P/E/G ratio of 1.69 and a beta of 1.10. Outfront Media Inc has a 52 week low of $16.81 and a 52 week high of $26.96. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.65 and a current ratio of 0.65.

Outfront Media (NYSE:OUT) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.23). The business had revenue of $371.70 million during the quarter, compared to the consensus estimate of $364.55 million. Outfront Media had a net margin of 6.40% and a return on equity of 9.36%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 EPS. On average, sell-side analysts expect that Outfront Media Inc will post 2.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.44 dividend on an annualized basis and a yield of 5.49%. Outfront Media’s dividend payout ratio (DPR) is presently 66.98%.

A number of equities research analysts have recently weighed in on the stock. CIBC restated a “buy” rating and issued a $13.00 price target on shares of BlackBerry in a research note on Friday, March 29th. Oppenheimer set a $10.00 price target on shares of Motus GI and gave the company a “buy” rating in a research note on Thursday, March 28th. Barrington Research raised their price target on shares of Lions Gate Entertainment to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday. Finally, Imperial Capital reduced their price target on shares of Denbury Resources from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Thursday, June 6th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $26.87.

About Outfront Media

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

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