Park West Asset Management Boosts Its Stake in Outerwall Inc (OUTR)

Peter S Park’s Park West Asset Management increased its stake in Outerwall Inc (NASDAQ:OUTR) to 1.5 million shares from 884,608 shares held earlier. The stake amasses 6.0% of the company’s common stock.

Outerwall Inc (NASDAQ:OUTR) is a provider of automated retail solutions. The company reported its fourth quarter financial results last week, which included earnings of $1.68 per share for the fourth quarter, beating Wall Street consensus of $1.22 per share. The company also recorded a revenue increase of 5.4% on the year to $593.70 million.

However, the earnings guidance of Outerwall Inc (NASDAQ:OUTR) for the first quarter of 2014 was pegged below analysts’ consensus of $0.77 – $0.97. This compelled Northland Capital Markets to downgrade the stock to ‘Market Perform’ from ‘Outperform’.

Barry Rosenstein’s Jana Partners, a significant shareholder of Outerwall Inc (NASDAQ:OUTR), trimmed its position in the company to 3.72 million shares earlier this year, after selling around 56,000 shares. Debra Fine‘s Fine Capital Partners is another major shareholder, which held around 1.73 million shares at the end of the third quarter of 2013.

Late last year, Park West  almost doubled its holdings in ShoreTel, Inc. (NASDAQ:SHOR) to more than 3.0 million shares, from 1.7 million shares held earlier. Earlier, Park West Asset Management reported to own 6.1% of Global Brass and Copper Holdings Inc (NYSE:BRSS).

Park West Management fund had the largest investment in Macquarie Infrastructure Company LLC (NYSE:MIC). At the end of September 2013, it held 1.15 shares of the company. Another big holding in its equity portfolio is Suncoke Energy Inc (NYSE:SXC), in which the fund reported 2.33 million shares.

Disclosure: none

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