Artemis Investment Management Llp buys $66.3 Million stake in Outfront Media Inc (OUT)

Outfront Media Inc (OUT) : Artemis Investment Management Llp scooped up 6,941 additional shares in Outfront Media Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 2,959,578 shares of Outfront Media Inc which is valued at $66.3 Million.Outfront Media Inc makes up approximately 1.66% of Artemis Investment Management Llp’s portfolio.

Other Hedge Funds, Including , Menta Capital added OUT to its portfolio by purchasing 23,200 company shares during the most recent quarter which is valued at $519,448. Outfront Media Inc makes up approx 0.07% of Menta Capital’s portfolio.Blackrock Group Ltd reduced its stake in OUT by selling 271,199 shares or 47.97% in the most recent quarter. The Hedge Fund company now holds 294,139 shares of OUT which is valued at $6.6 Million.State Treasurer State Of Michigan boosted its stake in OUT in the latest quarter, The investment management firm added 14,000 additional shares and now holds a total of 485,742 shares of Outfront Media Inc which is valued at $10.8 Million. Outfront Media Inc makes up approx 0.09% of State Treasurer State Of Michigan’s portfolio.Swiss National Bank boosted its stake in OUT in the latest quarter, The investment management firm added 45,900 additional shares and now holds a total of 228,554 shares of Outfront Media Inc which is valued at $5.1 Million. Outfront Media Inc makes up approx 0.01% of Swiss National Bank’s portfolio.Waratah Capital Advisors Ltd. boosted its stake in OUT in the latest quarter, The investment management firm added 750,120 additional shares and now holds a total of 824,930 shares of Outfront Media Inc which is valued at $18.3 Million. Outfront Media Inc makes up approx 3.58% of Waratah Capital Advisors Ltd.’s portfolio.

Outfront Media Inc opened for trading at $22.4 and hit $22.81 on the upside on Monday, eventually ending the session at $22.77, with a gain of 1.70% or 0.38 points. The heightened volatility saw the trading volume jump to 7,63,557 shares. Company has a market cap of $3,140 M.

On the company’s financial health, Outfront Media Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.31. The company had revenue of $348.40 million for the quarter, compared to analysts expectations of $344.94 million. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

OUTFRONT Media Inc. formerly CBS Outdoor Americas Inc. is a provider of advertising space on out-of-home advertising structures and sites. The Company operates in over 180 markets in the United States Canada and Latin America. In addition to leasing displays the Company also provides other services to its customers such as pre-campaign category research creative design support and post-campaign tracking and analytics. It manages its business through two segments United States and International. The United States segment includes the Company’s business in 25 markets in the United States. The Company’s portfolio includes sites such as the Bay Bridge in San Francisco various locations along Sunset Boulevard in Los Angeles and various sites in and around both Grand Central Station and Times Square in New York. The Company’s International segment includes its operations in Canada and Latin America including Mexico Argentina Brazil Chile and Uruguay.

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