Seeking Alpha

More on Outerwall/Jana

Jana, run by fund manager Barry Rosenstein, owns 3.78M Outerwall (OUTR) shares, good for a 13.5% stake.

The firm states in a 13D it " intends to have discussions" with Outerwall's board and management about "strategic alternatives" that include selling part or all of the company, altering its capital structure, changing its capital allocation policy, and cutting costs.

Outerwall plunged last month in response to a Q3/2013 warning blamed on weaker-than-expected Redbox performance. The company simultaneously added $100M to its buyback plan, stated it would "align its cost structure," and promised to speed up a review of its New Ventures initiatives (inc. the ecoATM electronics recycling kiosk business).

Outerwall doesn't yet pay a dividend.

Shares +6% AH after finishing regular trading up 9.4%.

Previous: Jana Partners discloses Outerwall stake

From other sites
Comments (3)
  • musicmaker
    , contributor
    Comments (482) | Send Message
    JANA is so overrated.
    5 Oct 2013, 01:38 AM Reply Like
    , contributor
    Comments (73) | Send Message
    Short squeezes are so overrated.
    6 Oct 2013, 01:20 AM Reply Like
  • The Long Tail of Finance
    , contributor
    Comments (1148) | Send Message
    Another hedge fund shakedown? Activist shareholder? Please!
    5 Oct 2013, 08:51 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs