Nomura Asset Management Co. Ltd. Has $3.17 Million Holdings in OUTFRONT Media Inc. (NYSE:OUT)

Nomura Asset Management Co. Ltd. boosted its holdings in OUTFRONT Media Inc. (NYSE:OUT) by 6,800.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 172,500 shares of the financial services provider’s stock after acquiring an additional 170,000 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in OUTFRONT Media were worth $3,171,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jane Street Group LLC lifted its holdings in shares of OUTFRONT Media by 55.3% in the third quarter. Jane Street Group LLC now owns 247,061 shares of the financial services provider’s stock valued at $4,541,000 after purchasing an additional 87,971 shares in the last quarter. Virtus Fund Advisers LLC bought a new position in OUTFRONT Media during the 3rd quarter valued at $49,000. Virtus Investment Advisers Inc. bought a new position in OUTFRONT Media during the 3rd quarter valued at $253,000. Weiss Asset Management LP purchased a new position in OUTFRONT Media during the 3rd quarter worth $1,502,000. Finally, Stifel Financial Corp grew its stake in shares of OUTFRONT Media by 5.6% in the 3rd quarter. Stifel Financial Corp now owns 102,212 shares of the financial services provider’s stock worth $1,879,000 after acquiring an additional 5,412 shares in the last quarter.

OUTFRONT Media Trading Up 0.1 %

Shares of OUT stock opened at $18.82 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 4.00. The firm has a market cap of $3.12 billion, a P/E ratio of 13.74, a PEG ratio of 1.20 and a beta of 1.96. The company has a 50 day moving average of $18.62 and a 200-day moving average of $16.70. OUTFRONT Media Inc. has a 12-month low of $12.27 and a 12-month high of $19.50.

OUTFRONT Media (NYSE:OUT) last released its earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.20). OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The firm had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $456.38 million. During the same period in the prior year, the business earned $0.46 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts anticipate that OUTFRONT Media Inc. will post 1.56 earnings per share for the current year.

OUTFRONT Media Cuts Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 15th will be paid a $0.75 dividend. The ex-dividend date is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is currently 87.59%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wolfe Research lowered shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 24th. StockNews.com lowered OUTFRONT Media from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Wells Fargo & Company initiated coverage on OUTFRONT Media in a report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price target on the stock. Finally, Barrington Research restated an “outperform” rating and issued a $21.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.25.

OUTFRONT Media Profile

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.