Outerwall Inc. (OUTR) Sees Large Decline in Short Interest
Outerwall Inc. (NASDAQ:OUTR) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 2,138,308 shares, a decline of 36.0% from the August 31st total of 3,338,835 shares. Currently, 12.6% of the company’s stock are sold short. Based on an average daily trading volume, of 687,225 shares, the days-to-cover ratio is currently 3.1 days.
Outerwall (NASDAQ:OUTR) opened at 52.00 on Friday. Outerwall has a one year low of $24.81 and a one year high of $66.68. The stock’s 50 day moving average price is $51.96 and its 200-day moving average price is $44.69. The firm has a market capitalization of $842.92 million, a price-to-earnings ratio of 6.68 and a beta of 1.69.
Outerwall (NASDAQ:OUTR) last announced its quarterly earnings results on Thursday, July 28th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $1.04. Outerwall had a return on equity of 2,419.68% and a net margin of 6.29%. The company earned $518 million during the quarter, compared to the consensus estimate of $487.29 million. During the same period in the prior year, the company earned $2.19 earnings per share. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. On average, equities research analysts expect that Outerwall will post $7.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were issued a $0.60 dividend. The ex-dividend date was Friday, August 19th. This represents a $2.40 annualized dividend and a dividend yield of 4.62%. Outerwall’s dividend payout ratio (DPR) is currently 30.89%.
In other news, insider Engaged Capital Llc sold 999,000 shares of Outerwall stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $52.36, for a total transaction of $52,307,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Outerwall by 7.9% in the second quarter. Vanguard Group Inc. now owns 2,831,231 shares of the company’s stock valued at $118,911,000 after buying an additional 207,125 shares during the period. BlackRock Fund Advisors increased its position in 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 during the last quarter. JPMorgan Chase & Co. increased its position in 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 during the last quarter. Kennedy Capital Management Inc. increased its position in 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 during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in 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 during the last quarter.
OUTR has been the subject of several research reports. B. Riley reiterated a “buy” rating and set a $58.00 price target on shares of Outerwall in a report on Tuesday, July 19th. Zacks Investment Research upgraded Outerwall from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Thursday, July 28th. Craig Hallum lowered Outerwall from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Wedbush lowered Outerwall from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Monday, July 25th. They noted that the move was a valuation call. Finally, Dougherty & Co lowered Outerwall from a “neutral” rating to a “sell” rating in a report on Monday, July 25th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Outerwall currently has an average rating of “Hold” and a consensus target price of $44.43.
Outerwall Company Profile
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.
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