Emerald Acquisition Ltd. purchased a new stake in Outerwall Inc. (NASDAQ:OUTR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 42,956 shares of the company’s stock, valued at approximately $1,805,000. Emerald Acquisition Ltd. owned about 0.25% of Outerwall at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new position in shares of Outerwall during the second quarter valued at about $106,000. Capstone Asset Management Co. acquired a new stake in shares of Outerwall during the second quarter valued at $224,000. Acrospire Investment Management LLC acquired a new stake in shares of Outerwall during the first quarter valued at $229,000. First Midwest Bank Trust Division acquired a new stake in shares of Outerwall during the second quarter valued at $264,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Outerwall by 2.7% in the second quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the company’s stock valued at $319,000 after buying an additional 200 shares in the last quarter.
Shares of Outerwall Inc. (NASDAQ:OUTR) remained flat at $52.00 during trading on Friday. Outerwall Inc. has a one year low of $24.81 and a one year high of $66.68. The company’s 50 day moving average is $51.96 and its 200 day moving average is $44.69.
Outerwall (NASDAQ:OUTR) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $1.04. The firm had revenue of $518 million for the quarter, compared to analysts’ expectations of $487.29 million. Outerwall had a net margin of 6.29% and a return on equity of 2,419.68%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the company posted $2.19 EPS. Equities research analysts forecast that Outerwall Inc. will post $7.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a $0.60 dividend. 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 presently 30.89%.
Several brokerages recently weighed in on OUTR. Wedbush cut shares of Outerwall from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Monday, July 25th. They noted that the move was a valuation call. Dougherty & Co cut shares of Outerwall from a “neutral” rating to a “sell” rating in a research note on Monday, July 25th. B. Riley reissued a “buy” rating and issued a $58.00 price objective on shares of Outerwall in a research note on Saturday. Zacks Investment Research cut shares of Outerwall from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Roth Capital cut shares of Outerwall from a “neutral” rating to a “sell” rating and set a $38.00 price objective on the stock. in a research note on Monday, July 25th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Outerwall currently has a consensus rating of “Hold” and an average price target of $44.43.
In related news, insider Engaged Capital Llc sold 999,000 shares of Outerwall stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $52.36, for a total value of $52,307,640.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.
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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