DAVENPORT & Co LLC Purchases New Position in OUTFRONT Media Inc. (NYSE:OUT)

DAVENPORT & Co LLC purchased a new stake in shares of OUTFRONT Media Inc. (NYSE:OUTFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 700,165 shares of the financial services provider’s stock, valued at approximately $9,774,000. DAVENPORT & Co LLC owned about 0.42% of OUTFRONT Media at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OUT. Raymond James Financial Services Advisors Inc. bought a new stake in shares of OUTFRONT Media in the 1st quarter valued at approximately $206,000. Acadian Asset Management LLC bought a new stake in shares of OUTFRONT Media in the 1st quarter valued at approximately $598,000. MetLife Investment Management LLC lifted its stake in shares of OUTFRONT Media by 48.8% in the 1st quarter. MetLife Investment Management LLC now owns 77,284 shares of the financial services provider’s stock valued at $2,197,000 after purchasing an additional 25,340 shares during the last quarter. BlackRock Inc. lifted its stake in shares of OUTFRONT Media by 3.2% in the 1st quarter. BlackRock Inc. now owns 19,931,847 shares of the financial services provider’s stock valued at $566,663,000 after purchasing an additional 610,565 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in shares of OUTFRONT Media by 70.4% during the 1st quarter. APG Asset Management N.V. now owns 75,500 shares of the financial services provider’s stock worth $1,929,000 after acquiring an additional 31,200 shares during the last quarter.

OUTFRONT Media Stock Performance

Shares of OUT opened at $16.19 on Wednesday. The stock has a 50-day moving average of $14.61 and a two-hundred day moving average of $12.79. OUTFRONT Media Inc. has a one year low of $8.18 and a one year high of $17.02. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $2.69 billion, a P/E ratio of -6.06, a P/E/G ratio of 1.07 and a beta of 1.87.

OUTFRONT Media Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 1st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.20 dividend on an annualized basis and a yield of 7.41%. OUTFRONT Media’s dividend payout ratio is currently -44.94%.

Analyst Ratings Changes

OUT has been the topic of several research reports. StockNews.com upgraded OUTFRONT Media from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. TheStreet upgraded OUTFRONT Media from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Read Our Latest Report on OUTFRONT Media

OUTFRONT Media Company Profile

(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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