Outerwall Inc. (NASDAQ:OUTR) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totalling 2,138,308 shares, a drop of 36.0% from the August 31st total of 3,338,835 shares. Based on an average daily trading volume, of 687,225 shares, the days-to-cover ratio is currently 3.1 days. Approximately 12.6% of the company’s stock are sold short.
A number of research analysts recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $58.00 price objective on shares of Outerwall in a report on Saturday, July 30th. Zacks Investment Research downgraded Outerwall from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Dougherty & Co downgraded Outerwall from a “neutral” rating to a “sell” rating in a report on Monday, July 25th. Craig Hallum downgraded Outerwall from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, Roth Capital downgraded Outerwall from a “neutral” rating to a “sell” rating and set a $38.00 price objective for the company. in a report on Monday, July 25th. Four 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 has an average rating of “Hold” and an average price target of $44.43.
Shares of Outerwall (NASDAQ:OUTR) opened at 52.00 on Friday. The firm has a market capitalization of $842.92 million, a PE ratio of 6.68 and a beta of 1.69. Outerwall has a 52-week low of $24.81 and a 52-week high of $66.68. The stock has a 50 day moving average price of $51.96 and a 200-day moving average price of $44.69.
Outerwall (NASDAQ:OUTR) last announced its quarterly earnings data on Thursday, July 28th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $1.04. The company had revenue of $518 million for the quarter, compared to the consensus estimate of $487.29 million. Outerwall had a return on equity of 2,419.68% and a net margin of 6.29%. The firm’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.19 EPS. Equities analysts forecast that Outerwall will post $7.22 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Friday, August 19th. Outerwall’s dividend payout ratio is 30.89%.
In related news, insider Engaged Capital Llc sold 999,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in OUTR. JPMorgan Chase & Co. increased 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. Vanguard Group Inc. increased its position 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 worth $118,911,000 after buying an additional 207,125 shares in the last quarter. Norges Bank acquired a new position in shares of Outerwall during the fourth quarter worth about $7,540,000. Price Michael F acquired a new position in shares of Outerwall during the second quarter worth about $8,644,000. Finally, Kennedy Capital Management Inc. increased 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.
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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