Polar Asset Management Partners Inc. Increases Position in OUTFRONT Media Inc. (NYSE:OUT)

Polar Asset Management Partners Inc. lifted its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 236.2% during the fourth quarter, Holdings Channel reports. The fund owned 655,500 shares of the financial services provider’s stock after purchasing an additional 460,500 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in OUTFRONT Media were worth $11,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. ProShare Advisors LLC increased its position in shares of OUTFRONT Media by 44.7% during the fourth quarter. ProShare Advisors LLC now owns 44,402 shares of the financial services provider’s stock worth $788,000 after acquiring an additional 13,725 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of OUTFRONT Media by 5.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,237 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 596 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of OUTFRONT Media by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,232 shares of the financial services provider’s stock worth $1,494,000 after acquiring an additional 3,209 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of OUTFRONT Media during the fourth quarter worth about $113,000. Finally, Jefferies Financial Group Inc. acquired a new stake in OUTFRONT Media during the fourth quarter valued at approximately $608,000.

Analyst Ratings Changes

Several analysts have issued reports on OUT shares. StockNews.com cut OUTFRONT Media from a “hold” rating to a “sell” rating in a research note on Monday. Morgan Stanley cut their price objective on OUTFRONT Media from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company cut their price objective on OUTFRONT Media from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Finally, Barrington Research restated an “outperform” rating and set a $21.00 price objective on shares of OUTFRONT Media in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.97.

OUTFRONT Media Stock Down 3.9%

NYSE:OUT opened at $15.96 on Thursday. The firm has a market capitalization of $2.67 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.06 and a beta of 1.84. The stock has a 50 day moving average of $15.43 and a 200-day moving average of $17.55. OUTFRONT Media Inc. has a 52 week low of $12.95 and a 52 week high of $19.98. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 4.00.

OUTFRONT Media (NYSE:OUT) last posted its earnings results on Thursday, May 8th. The financial services provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $390.70 million for the quarter, compared to the consensus estimate of $396.17 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. Analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.52%. The ex-dividend date is Friday, June 6th. OUTFRONT Media’s dividend payout ratio (DPR) is presently 78.95%.

OUTFRONT Media Company Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.