In the third quarter, Algert Global LLC increased its stake in OUTFRONT Media Inc. (NYSE:OUT – Free Report) by 141.5%, according per the company’s latest SEC filing. After purchasing an extra 480,372 shares of the financial services provider’s stock over the time, the business now held 819,828 shares of its stock. As per its last SEC filing, Algert Global LLC had roughly 0.50% of OUTFRONT Media, valued at $8,280,000.
Recently, a number of other institutional investors and hedge funds adjusted their holdings in OUT as well. During the second quarter, Parallel Advisors LLC increased its stake in OUTFRONT Media by 166.2%. After acquiring an additional 1,002 shares during the most recent quarter, Parallel Advisors LLC now holds 1,605 shares of the financial services provider’s stock, valued at $25,000. During the first quarter, Belpointe Asset Management LLC increased its stake in OUTFRONT Media by 116.7%.
Belpointe Asset Management LLC acquired 840 more shares of the financial services provider’s stock during the most recent quarter, bringing its total ownership of the shares to 1,560, valued at $25,000. During the second quarter, State of Wyoming purchased a new stake in OUTFRONT Media for about $26,000. During the first quarter, Lazard Asset Management LLC purchased a new investment in OUTFRONT Media for about $28,000. Lastly, during the second quarter, Signaturefd LLC acquired a new stake in OUTFRONT Media for around $32,000.
OUTFRONT Media Price Functioning:
OUT reached $14.68 during Thursday’s lunchtime trading, up $2.25 from the previous day. Against its usual volume of 1,954,411 shares, the company’s trading volume was 2,413,687 shares. The debt-to-equity ratio, quick ratio, and current ratio for the firm are 4.43, 0.58, and 0.58, respectively. The market capitalization of the firm is $2.42 billion, with a beta of 1.85, a PE ratio of -5.38, a P/E/G ratio of 1.08, and other metrics. The twelve-month low and twelve-month high for OUTFRONT Media Inc. are $8.18 and $18.53, respectively. The 200-day simple moving average for the company is $11.88, while the 50-day simple moving average is $13.52.
Changes in Analyst Ratings:
In a related development, on Monday, November 6th, StockNews.com upgraded their recommendation for OUTFRONT Media shares to “sell”. Three investment analysts have classified the company’s shares as hold, two have given it a buy recommendation, and one has given it a sell rating. As to MarketBeat.com, the stock now has an average price target of $14.50 and an average recommendation of “Hold”.