Hedge Funds Are Dumping Outfront Media Inc (OUT)

Page 2 of 2

Judging by the fact that Outfront Media Inc (NYSE:OUT) has faced declining sentiment from the smart money, it’s safe to say that there were a few funds that elected to cut their positions entirely in the third quarter. Interestingly, Ricky Sandler’s Eminence Capital dropped the biggest investment of all the hedgies watched by Insider Monkey, valued at roughly $43.5 million in stock, and Jim Simons’s Renaissance Technologies was right behind this move, as the fund sold off about $3.2 million worth of OUT shares. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest was cut by 6 funds in the third quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Outfront Media Inc (NYSE:OUT) but similarly valued. We will take a look at Oshkosh Corporation (NYSE:OSK), UIL Holdings Corporation (NYSE:UIL), CAE, Inc. (USA) (NYSE:CAE), and AU Optronics Corp. (ADR) (NYSE:AUO). All of these stocks’ market caps resemble OUT’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OSK 21 173010 5
UIL 10 371942 -3
CAE 6 21991 0
AUO 6 14165 -3

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $145 million. That figure was $140 million in OUT’s case. Oshkosh Corporation (NYSE:OSK) is the most popular stock in this table, while CAE, Inc. (USA) (NYSE:CAE) and AU Optronics Corp. (ADR) (NYSE:AUO) are the least popular ones with only 6 bullish hedge fund positions. Outfront Media Inc (NYSE:OUT) is not the most popular stock in this group, but hedge fund interest is still above average. While This is a slightly positive signal, we’d rather spend our time researching stocks that hedge funds are piling on. In this regard OSK might be a better candidate to consider a long position.

Page 2 of 2