Verde Investments & Garcia Amend OUTFRONT Media Stake
Ticker: OUT · Form: SC 13D/A · Filed: Nov 8, 2024 · CIK: 1579877
Sentiment: neutral
Topics: ownership-change, sec-filing, schedule-13d
Related Tickers: OUT
TL;DR
Garcia & Verde updated their OUTFRONT Media filing, Moreno is in the group.
AI Summary
On November 8, 2024, Verde Investments, Inc. and Ernest C. Garcia II filed an amendment (No. 2) to their Schedule 13D regarding OUTFRONT Media Inc. The filing indicates a change in beneficial ownership, with Arturo R. Moreno also listed as a group member. The specific details of the change in ownership percentage or dollar amounts are not immediately clear from this excerpt.
Why It Matters
This filing signals a potential shift in control or strategy for OUTFRONT Media Inc., as significant stakeholders are updating their beneficial ownership information with the SEC.
Risk Assessment
Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or potential M&A, which introduces uncertainty for the company and its stock.
Key Players & Entities
- Verde Investments, Inc. (company) — Filing entity
- Ernest C. Garcia II (person) — Filing entity and group member
- Arturo R. Moreno (person) — Group member
- OUTFRONT Media Inc. (company) — Subject company
FAQ
What specific change in beneficial ownership is reported in this amendment?
This excerpt does not specify the exact percentage or number of shares that changed hands, only that an amendment (No. 2) was filed on November 8, 2024, by Verde Investments, Inc. and Ernest C. Garcia II, adding Arturo R. Moreno as a group member.
What is the CUSIP number for OUTFRONT Media Inc. common stock?
The CUSIP number for OUTFRONT Media Inc. common stock is 69007J106.
When was OUTFRONT Media Inc. formerly known as CBS OUTDOOR AMERICAS INC.?
The date of the name change from CBS OUTDOOR AMERICAS INC. to OUTFRONT Media Inc. was June 21, 2013.
What is the business address for Verde Investments, Inc.?
The business address for Verde Investments, Inc. is 5430 Lyndon B. Johnson Fwy, Tower 3, Suite 1250, Dallas, Texas 75201.
Who are the listed group members in this SC 13D/A filing?
The listed group members are Arturo R. Moreno, Ernest C. Garcia II, and Verde Investments, Inc.
Filing Stats: 1,732 words · 7 min read · ~6 pages · Grade level 5.2 · Accepted 2024-11-08 17:15:57
Key Financial Figures
- $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class o
- $22,442,802 — ions for an aggregate purchase price of $22,442,802.65, including brokerage commissions. Fu
- $15.00 — 2,381,043.85 $ 14.8986 $ 14.62 -$15.00 Purchase of Common Stock on Open Mark
- $14.75 — $ 189,866.30 $ 14.7156 $ 14.65 - $14.75 Purchase of Common Stock on Open Mark
- $14.85 — 1,477,380.00 $ 14.7688 $ 14.67 - $14.85 Purchase of Common Stock on Open Mark
- $14.80 — 2,545,527.53 $ 14.7828 $ 14.725 -$14.80 Purchase of Common Stock on Open Mark
- $14.60 — 1,073,287.27 $ 14.5785 $ 14.55 - $14.60 Purchase of Common Stock on Open Mark
- $14.50 — 2,156,175.00 $ 14.3695 $ 14.20 - $14.50 Purchase of Common Stock on Open Mark
- $14.35 — 1,429,190.00 $ 14.2869 $ 14.205 - $14.35 Purchase of Common Stock on Open Mark
- $13.80 — $ 420,556.27 $ 13.7878 $ 13.72 - $13.80 Purchase of Common Stock on Open Mark
- $13.50 — 1,350,230.00 $ 13.4973 $ 13.455 - $13.50 Purchase of Common Stock on Open Mark
- $13.40 — 146,488.38 $ 13.3766 $ 13.355 - $13.40 Purchase of Common Stock on Open Mark
- $14.15 — 1,412,270.00 $ 14.1177 $ 13.935 - $14.15 Nature of Transaction Transaction D
- $16.00 — $ 229,085.41 $ 15.987 $ 15.95 - $16.00 Purchase of Common Stock on Open Mark
- $15.80 — $ 429,439.67 $ 15.6886 $ 15.51 - $15.80 Sale of Common Stock on Open Market
Filing Documents
- d872640dsc13da.htm (SC 13D/A) — 93KB
- 0001193125-24-254250.txt ( ) — 95KB
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: Verde purchased 1,547,796 shares of Common Stock in open market transactions for an aggregate purchase price of $22,442,802.65, including brokerage commissions. Funding of the purchases of the Common Stock was from Verdes working capital. The information set forth in Item 5 of this Amendment No. 2 is incorporated by reference in its entirety into this Item 3. Item5. Interest in Securities of the Issuer
of the Original Schedule 13D is hereby amended and supplemented to include the following information
Item 5 of the Original Schedule 13D is hereby amended and supplemented to include the following information: The information set forth in Item 3 and on the cover pages of this Amendment No. 2 is incorporated by reference in its entirety into this Item 5. (c) The transactions effected by the Reporting Persons in respect of the Issuers Common Stock since the most recent filing of the Reporting Persons on Original Schedule 13D are set forth on the following table. All sales and purchases provided below were made by the Reporting Persons in open market transactions at prevailing markets prices. Verde Investments, Inc. Nature of Transaction Transaction Date Number of Shares Purchased/(Sold) Total Purchase/Sale Amount ($) Price Per Share ($) Price Per Share Range Purchase of Common Stock on Open Market 5/3/2024 159,763 $ 2,381,043.85 $ 14.8986 $ 14.62 -$15.00 Purchase of Common Stock on Open Market 5/6/2024 12,898 $ 189,866.30 $ 14.7156 $ 14.65 - $14.75 Purchase of Common Stock on Open Market 5/8/2024 100,000 $ 1,477,380.00 $ 14.7688 $ 14.67 - $14.85 Purchase of Common Stock on Open Market 5/17/2024 172,137 $ 2,545,527.53 $ 14.7828 $ 14.725 -$14.80 Purchase of Common Stock on Open Market 5/22/2024 73,596 $ 1,073,287.27 $ 14.5785 $ 14.55 - $14.60 Purchase of Common Stock on Open Market 5/23/2024 150,000 $ 2,156,175.00 $ 14.3695 $ 14.20 - $14.50 Purchase of Common Stock on Open Market 5/24/2024 100,000 $ 1,429,190.00 $ 14.2869 $ 14.205 - $14.35 Purchase of Common Stock on Open Market 6/7/2024 30,491 $ 420,556.27 $ 13.7878 $ 13.72 - $13.80 Purchase of Common Stock on Open Market 6/10/2024 80,311 $ 1,102,718.22 $ 13.7256 $ 13.54 - $13.80 Purchase of Common Stock on Open Market 6/11/2024 108,861 $ 1,497,132.68 $ 13.7477 $ 13.65 - $13.80 Purchase of Common Stock on Open Market 6/14/2024 100,000 $ 1,350,230.00 $