Comerica Bank Purchases New Stake in Outfront Media Inc. (NYSE:OUT)

Comerica Bank purchased a new stake in Outfront Media Inc. (NYSE:OUTGet Rating) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 111,555 shares of the financial services provider’s stock, valued at approximately $1,903,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strs Ohio raised its position in shares of Outfront Media by 11.1% in the 3rd quarter. Strs Ohio now owns 212,136 shares of the financial services provider’s stock valued at $3,222,000 after buying an additional 21,136 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Outfront Media by 17.5% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 187,450 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 27,950 shares in the last quarter. Texas Permanent School Fund acquired a new position in Outfront Media during the third quarter valued at approximately $1,595,000. Raymond James & Associates raised its position in Outfront Media by 11.4% during the third quarter. Raymond James & Associates now owns 35,944 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 3,684 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Outfront Media during the third quarter valued at approximately $829,000.

Analyst Upgrades and Downgrades

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

Outfront Media Stock Performance

Outfront Media stock opened at $18.47 on Friday. The business has a 50 day moving average of $17.59 and a 200-day moving average of $17.59. Outfront Media Inc. has a 1 year low of $14.97 and a 1 year high of $29.36. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $3.03 billion, a P/E ratio of 20.99, a P/E/G ratio of 0.93 and a beta of 1.64.

Outfront Media Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Friday, December 2nd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.50%. The ex-dividend date was Thursday, December 1st. Outfront Media’s payout ratio is currently 136.37%.

Outfront Media Company Profile

(Get Rating)

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.

Further Reading

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

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