Virtus Investment Advisers Inc. Buys New Shares in OUTFRONT Media Inc. (NYSE:OUT)

Virtus Investment Advisers Inc. purchased a new position in OUTFRONT Media Inc. (NYSE:OUT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,744 shares of the financial services provider’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in shares of OUTFRONT Media in the third quarter worth about $32,000. Quarry LP boosted its stake in OUTFRONT Media by 258.8% in the 2nd quarter. Quarry LP now owns 1,837 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,325 shares during the period. National Bank of Canada FI purchased a new stake in OUTFRONT Media during the 2nd quarter valued at approximately $28,000. Quest Partners LLC raised its position in shares of OUTFRONT Media by 30.0% during the second quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider’s stock valued at $62,000 after buying an additional 994 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of OUTFRONT Media in the third quarter worth $108,000.

OUTFRONT Media Stock Performance

OUTFRONT Media stock opened at $18.91 on Friday. The company’s 50-day moving average price is $18.53 and its 200-day moving average price is $16.50. 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 company has a market cap of $3.14 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.22 and a beta of 1.96. OUTFRONT Media Inc. has a twelve month low of $12.13 and a twelve month high of $19.50.

OUTFRONT Media (NYSE:OUT) last issued its quarterly earnings data on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.20). The company had revenue of $451.90 million for the quarter, compared to the consensus estimate of $456.38 million. OUTFRONT Media had a return on equity of 40.33% and a net margin of 13.30%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, equities research analysts forecast that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

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

Analysts Set New Price Targets

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

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 technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.