Outerwall Inc. (OUTR) Sees Large Decline in Short Interest
Outerwall Inc. (NASDAQ:OUTR) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 2,138,308 shares, a decrease of 36.0% from the August 31st total of 3,338,835 shares. Approximately 12.6% of the company’s shares are short sold. Based on an average daily volume of 687,225 shares, the short-interest ratio is currently 3.1 days.
In other Outerwall news, insider Engaged Capital Llc sold 999,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $52.36, for a total value of $52,307,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Outerwall by 7.9% in the second quarter. Vanguard Group Inc. now owns 2,831,231 shares of the company’s stock worth $118,911,000 after buying an additional 207,125 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Outerwall by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,093,786 shares of the company’s stock worth $45,939,000 after buying an additional 30,617 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Outerwall by 52.9% in the first quarter. JPMorgan Chase & Co. now owns 692,972 shares of the company’s stock worth $25,633,000 after buying an additional 239,639 shares in the last quarter. Kennedy Capital Management Inc. boosted its position in shares of Outerwall by 43.5% in the first quarter. Kennedy Capital Management Inc. now owns 629,928 shares of the company’s stock worth $23,301,000 after buying an additional 190,820 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Outerwall by 2.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 472,045 shares of the company’s stock worth $19,826,000 after buying an additional 12,486 shares in the last quarter.
A number of research analysts have issued reports on OUTR shares. B. Riley restated a “buy” rating and issued a $58.00 target price on shares of Outerwall in a report on Tuesday, July 19th. Zacks Investment Research upgraded shares of Outerwall from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Thursday, July 28th. Craig Hallum lowered shares of Outerwall from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Wedbush lowered shares of Outerwall from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Monday, July 25th. They noted that the move was a valuation call. Finally, Dougherty & Co lowered shares of Outerwall from a “neutral” rating to a “sell” rating in a report on Monday, July 25th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.43.
Outerwall (NASDAQ:OUTR) opened at 52.00 on Thursday. The company has a 50-day moving average of $51.94 and a 200 day moving average of $45.03. Outerwall has a 12-month low of $24.81 and a 12-month high of $66.68.
Outerwall (NASDAQ:OUTR) last released its earnings results on Thursday, July 28th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $1.04. The firm had revenue of $518 million for the quarter, compared to analyst estimates of $487.29 million. Outerwall had a return on equity of 2,419.68% and a net margin of 6.29%. Outerwall’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.19 earnings per share. On average, equities analysts forecast that Outerwall will post $7.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Friday, August 19th. Outerwall’s payout ratio is currently 30.89%.
Outerwall Inc is a provider of automated retail solutions. The Company’s business segments are Redbox, Coinstar and ecoATM. Its offerings include Redbox business, which enables consumers to rent or purchase movies and video games from self-service kiosks (Redbox segment); Coinstar business, which enables consumers to convert their coins to cash and convert coins and cash to stored value products at self-service kiosks (Coinstar segment), and ecoATM business, which enables consumers to sell electronic devices for cash at self-service kiosks, and purchase and sell electronic devices for cash through an online solution under its Gazelle brand.
Receive News & Ratings for Outerwall Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Outerwall Inc. and related companies with MarketBeat.com's FREE daily email newsletter.