QUICK LINKS: Videos  |  Micromarkets |

Redemption Report




Buy a Classified Ad


Editorial Calendars


Circulation Data






Date Book


Bookmark this site

Issue Date: Vol. 51, No. 3, March 2011, Posted On: 2/18/2011

Coinstar To Buy Back $50M In Stock

Emily Jed
Coinstar Inc., vending machine, vending business, kiosk, coin-counting kiosk, Redbox Morgan Stanley

BELLEVUE, WA -- Coinstar Inc. announced on Feb. 15 that it will buy back $50 million of its common stock from Morgan Stanley. The repurchase is part of a buyback worth up to $74.5 million that the company's board approved earlier.

The quantity of shares that the owner and operator of Redbox DVD rental kiosks and coin-counting machines buys back will be based on average prices over a period that analysts say could extend from mid-March at the earliest to mid-May at the latest. By reducing the number of shares on the market, the stock buyback could boost the value of the company's remaining shares.

Earlier this month, Coinstar Inc., which also operates self-service coin-counting machines, reported lower-than-expected fourth quarter results. Officials cited disappointing sales from its Redbox kiosks as a result of a 28-delay of new movie releases. Its guidance for the current quarter also fell short of Wall Street forecasts. | SEE STORY



Topic: Vending Features

  • VE South Hosts Orientation For New Wittenborg 9100 Coffee Vending Machine
  • Better-For-You Products Proliferate At Vistar Mid-Atlantic's Largest-Ever Open House
  • AMS Plans January Production For MicroVend Countertop Machine
  • Businesses Begin To Accept Mobile Payments With Square's New Reader
  • Crane Merchandising Systems Announces Enhanced Self-Service Features For Cashless Vending

Copyright © 2015 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570