Hourglass Capital buys $6,299,030 stake in Outfront Media Inc (OUT)

Outfront Media Inc (OUT) : Hourglass Capital scooped up 10,800 additional shares in Outfront Media Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 281,458 shares of Outfront Media Inc which is valued at $6,299,030.Outfront Media Inc makes up approximately 1.46% of Hourglass Capital’s portfolio.

Other Hedge Funds, Including , Segall Bryant Hamill reduced its stake in OUT by selling 1,151 shares or 10.4% in the most recent quarter. The Hedge Fund company now holds 9,919 shares of OUT which is valued at $221,987. Outfront Media Inc makes up approx 0.01% of Segall Bryant Hamill’s portfolio.Glenmede Trust Co Na reduced its stake in OUT by selling 6,538 shares or 27.42% in the most recent quarter. The Hedge Fund company now holds 17,303 shares of OUT which is valued at $384,992. Waratah Capital Advisors Ltd. sold out all of its stake in OUT during the most recent quarter. The investment firm sold 824,930 shares of OUT which is valued $18,354,693. Timber Hill added OUT to its portfolio by purchasing 10,233 company shares during the most recent quarter which is valued at $227,684. Outfront Media Inc makes up approx 0.02% of Timber Hill’s portfolio.Strs Ohio reduced its stake in OUT by selling 3,098 shares or 1.48% in the most recent quarter. The Hedge Fund company now holds 206,824 shares of OUT which is valued at $4,852,091. Outfront Media Inc makes up approx 0.02% of Strs Ohio’s portfolio.

Outfront Media Inc closed down -0.05 points or -0.23% at $21.88 with 11,57,731 shares getting traded on Friday. Post opening the session at $21.89, the shares hit an intraday low of $21.68 and an intraday high of $21.9 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Outfront Media Inc reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.56. The company had revenue of $385.30 million for the quarter, compared to analysts expectations of $380.69 million. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.

Investors should note that on Jul 27, 2016, Outfront Media Inc announced a cash dividend of $0.3400. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Outfront Media Inc. Wedbush Initiated Outfront Media Inc on Jul 22, 2016 to “Neutral”, Price Target of the shares are set at $26.Gabelli & Co Initiated Outfront Media Inc on Jul 22, 2016 to “Hold”, Price Target of the shares are set at $29.

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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