Verde Investments Amends OUTFRONT Media Stake
Ticker: OUT · Form: SC 13D/A · Filed: Feb 21, 2024 · CIK: 1579877
Sentiment: neutral
Topics: insider-ownership, amendment, real-estate
TL;DR
**Verde Investments, led by Garcia II and Moreno, just updated their OUTFRONT Media Inc. stake.**
AI Summary
Verde Investments, Inc., led by Ernest C. Garcia II and Arturo R. Moreno, filed an SC 13D/A amendment on February 21, 2024, regarding their ownership in OUTFRONT Media Inc. The filing indicates a change in their beneficial ownership of OUTFRONT Media Inc. Common Stock, $0.01 par value per share, with CUSIP Number 69007J106. The group members include Arturo R. Moreno and Ernest C. Garcia II, with Verde Investments, Inc. acting as the filing entity.
Why It Matters
This filing signals a change in the ownership structure of OUTFRONT Media Inc., potentially indicating strategic shifts or investment adjustments by significant shareholders.
Risk Assessment
Risk Level: low — The filing is an amendment to a Schedule 13D, indicating a change in beneficial ownership rather than a new, aggressive stake, suggesting a routine update.
Key Players & Entities
- OUTFRONT Media Inc. (company) — Subject Company
- Verde Investments, Inc. (company) — Filing Entity
- Ernest C. Garcia II (person) — Group Member, Contact Person
- Arturo R. Moreno (person) — Group Member
- $0.01 (dollar_amount) — Par value per share of Common Stock
FAQ
What is the purpose of this SC 13D/A filing?
This SC 13D/A filing is an amendment (Amendment No. 1) to a Schedule 13D, indicating a change in the beneficial ownership information previously reported for OUTFRONT Media Inc. by Verde Investments, Inc. and its group members.
Who are the key individuals associated with Verde Investments, Inc. in this filing?
The key individuals associated with Verde Investments, Inc. in this filing are Ernest C. Garcia II and Arturo R. Moreno, who are listed as group members.
What is the CUSIP number for OUTFRONT Media Inc.'s Common Stock mentioned in the filing?
The CUSIP number for OUTFRONT Media Inc.'s Common Stock is 69007J106.
What was the former name of OUTFRONT Media Inc. and when did the name change occur?
The former name of OUTFRONT Media Inc. was CBS OUTDOOR AMERICAS INC., and the name change occurred on June 21, 2013 (20130621).
Where is Verde Investments, Inc.'s business address located?
Verde Investments, Inc.'s business address is 100 Crescent Court, Suite 1100, Dallas, Texas 75201.
Filing Stats: 1,857 words · 7 min read · ~6 pages · Grade level 6.6 · Accepted 2024-02-21 17:28:27
Key Financial Figures
- $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class o
- $2,959,486 — ions for an aggregate purchase price of $2,959,486.86, including brokerage commissions. Fu
- $971,000 — ions for an aggregate purchase price of $971,000.00, including brokerage commissions. Fu
- $985,000 — ions for an aggregate purchase price of $985,000.00, including brokerage commissions. Fu
- $572,925 — ions for an aggregate purchase price of $572,925.01, including brokerage commissions. Fu
- $136,835 — ions for an aggregate purchase price of $136,835.40, including brokerage commissions. Fu
- $887,484 — ions for an aggregate purchase price of $887,484.82, including brokerage commissions. Fu
- $1,278,000 — ions for an aggregate purchase price of $1,278,000.00, including brokerage commissions. Fu
- $2,472,149 — ions for an aggregate purchase price of $2,472,149.35, including brokerage commissions. Fu
- $1,934,117 — ions for an aggregate purchase price of $1,934,117.15, including brokerage commissions. Fu
- $2,543,220 — ions for an aggregate purchase price of $2,543,220.00, including brokerage commissions. Fu
- $2,583,978 — ions for an aggregate purchase price of $2,583,978.40, including brokerage commissions. Fu
- $2,510,260 — ions for an aggregate purchase price of $2,510,260.00, including brokerage commissions. Fu
- $13.00 — $ 572,925.01 $ 12.95 $ 12.86 - $13.00 Purchase of Common Stock on Open Mark
- $12.85 — $ 2,472,149.35 $ 12.72 $ 12.54 - $12.85 Purchase of Common Stock on Open Mark
Filing Documents
- d754814dsc13da.htm (SC 13D/A) — 79KB
- 0001193125-24-041619.txt ( ) — 81KB
of the Original Schedule 13D is hereby amended and supplemented to include the following information
Item 3 of the Original Schedule 13D is hereby amended and supplemented to include the following information: The responses to Item 5 hereof are incorporated herein by reference. On October 26, 2023, Mr. Moreno purchased 300,000 shares of Common Stock in open market transactions for an aggregate purchase price of $2,959,486.86, including brokerage commissions. Funding for the purchases of the Common Stock was from Mr. Morenos personal funds. On October 27, 2023, Mr. Moreno purchased 100,000 shares of Common Stock in open market transactions for an aggregate purchase price of $971,000.00, including brokerage commissions. Funding for the purchases of the Common Stock was from Mr. Morenos personal funds. On November 1, 2023, Mr. Moreno purchased 100,000 shares of Common Stock in open market transactions for an aggregate purchase price of $985,000.00, including brokerage commissions. Funding for the purchases of the Common Stock was from Mr. Morenos personal funds. On January 17, 2024, Verde purchased 44,214 shares of Common Stock in open market transactions for an aggregate purchase price of $572,925.01, including brokerage commissions. Funding for the purchases of the Common Stock was from Verdes working capital. On February 1, 2024, Verde purchased 10,574 shares of Common Stock in open market transactions for an aggregate purchase price of $136,835.40, including brokerage commissions. Funding for the purchases of the Common Stock was from Verdes working capital. On February 2, 2024, Verde purchased 68,526 shares of Common Stock in open market transactions for an aggregate purchase price of $887,484.82, including brokerage commissions. Funding for the purchases of the Common Stock was from Verdes working capital. On February 5, 2024, Mr. Moreno purchased 100,000 shares of Common Stock in open market transactions for an aggregate purchase price of $1,278,000.00, including brokerage commissions. Funding for the purchases of the Common Stock was from Mr. M
of the Original Schedule 13D is hereby amended and supplemented to include the following information
Item 5 of the Original Schedule 13D is hereby amended and supplemented to include the following information: The information set forth in Item 3 and on the cover pages of this Amendment No. 1 is incorporated by reference in its entirety into this Item 5. (c) The transactions effected by the Reporting Persons in respect of the Issuers Common Stock since the most recent filing of the Reporting Persons on Original Schedule 13D are set forth on the following table. All purchases provided below were made by the Reporting Persons in open market transactions at prevailing markets prices. Verde Investments, Inc. Nature of Transaction Transaction Date Number of Shares Total Purchase Amount ($) Price Per Share ($) Price Per Share Range Purchase of Common Stock on Open Market 1/17/2024 44,214 $ 572,925.01 $ 12.95 $ 12.86 - $13.00 Purchase of Common Stock on Open Market 2/1/2024 10,574 $ 136,835.40 $ 12.94 $ 12.885 - $13.00 Purchase of Common Stock on Open Market 2/2/2024 68,526 $ 887,484.82 $ 12.95 $ 12.855 - $13.00 Purchase of Common Stock on Open Market 2/7/2024 194,217 $ 2,472,149.35 $ 12.72 $ 12.54 - $12.85 Purchase of Common Stock on Open Market 2/9/2024 151,717 $ 1,934,117.15 $ 12.74 $ 12.585 - $12.85 Purchase of Common Stock on Open Market 2/13/2024 200,000 $ 2,543,220.00 $ 12.71 $ 12.51 - $12.87 Purchase of Common Stock on Open Market 2/16/2024 200,000 $ 2,583,978.40 $ 12.91 $ 12.72 - $13.00 Purchase of Common Stock on Open Market 2/20/2024 200,000 $ 2,510,260.00 $ 12.55 $ 12.395 - $12.67 Arturo R. Moreno Nature of Transaction Transaction Date Number of Shares Total Purchase Amount ($) Price Per Share ($) Price Per Share Range Purchase of Common Stock on Open Market 10/26/2023 100,000 $ 978,000.00 $ 9.78 $ 9.78 - $9.785 Purchase of Common Stock on Open Market 10/26/2023 182,049 $ 1,805,926.08 $ 9.92