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TPG-Axon Joins Jana Partners With a Passive Stake in Outerwall

TPG-Axon, Outerwall: Dinakar Singh‘s hedge fund, TPG-Axon Management, recently disclosed a passive position in Outerwall Inc (NASDAQ:OUTR) through acquiring around 5.1% of the company. In a filing with the SEC, Singh revealed purchasing around 1.43 million shares, which have a total value of $85.15 million, at the current price of Outerwall’s stock. The move made by Singh into Outerwall comes only a couple of days after another activist disclosed purchasing a large cut of the company. Last Friday, Barry Rosenstein‘s Jana Partners reported acquiring 13.5% of Outerwall.

Dinakar Singh

Last month, Outerwall lowered its Redbox expectations for the year. The company forecasts revenues of $2.274-$2.339 billion, and EPS worth between $4.72 and $5.76 for full 2013.

Disclosure: none

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