Jana sells 54% of Outerwall stake

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Bobby Raines 03/11/2014

Hedge fund Jana Partners sold more than half of its stake in Outerwall ( OUTR ) on March 5. At $68.00 per share,, Jana's sale of 2 million shares pulled in a total of $136 million. The shares sold was about 54% of Jana's holdings in the company.

IK-> The technicals for OUTR ($66.38 down $2.02) are bearish with a downward trend. The stock has been below recent support and recent resistance has been around $73.29. Standard & Poor's does not follow the stock. Look at the July 85/90 bear-call spread for a 25-cent credit. That's a 5.3% return and the stock has to rise 28.1% to cause a problem.  [InvestorsKeyhole, Various news and data services]



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Originally published on InvestorsObserver.com


This article appears in: Investing , Options

Referenced Stocks: OUTR

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