Jana Partners reports 13.5 pct stake in Outerwall
Oct 4 (Reuters) - Activist investor Jana Partners LLC reported a 13.5 percent stake in Outerwall Inc and said it intends to discuss strategic options, including a sale, with the operator of the Redbox video rental kiosks.
Outerwall's shares rose about 7 percent in extended trading.
Jana Partners, founded by Barry Rosenstein, said in a regulatory filing that it believes the stock was undervalued. ()
Shares of Outerwall, known previously as Coinstar Inc, closed at $57.10 on the Nasdaq on Friday.
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