CastleKnight Management LP lowered its position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) by 35.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,425,708 shares of the business services provider’s stock after selling 1,338,000 shares during the quarter. CastleKnight Management LP owned 0.49% of Clear Channel Outdoor worth $5,361,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in shares of Clear Channel Outdoor in the 4th quarter valued at about $27,000. EntryPoint Capital LLC acquired a new position in shares of Clear Channel Outdoor in the 4th quarter valued at about $28,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Clear Channel Outdoor during the fourth quarter valued at approximately $31,000. Sargent Investment Group LLC acquired a new position in Clear Channel Outdoor during the fourth quarter valued at approximately $33,000. Finally, Amundi acquired a new position in Clear Channel Outdoor during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 85.52% of the company’s stock.
Clear Channel Outdoor Price Performance
NYSE:CCO opened at $2.41 on Thursday. The business’s 50-day moving average is $2.39 and its two-hundred day moving average is $2.28. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.00 and a 12 month high of $2.43. The firm has a market capitalization of $1.22 billion, a PE ratio of -13.36 and a beta of 1.96.
Analyst Ratings Changes
CCO has been the topic of a number of recent research reports. TD Cowen reaffirmed a “hold” rating and set a $2.43 price target (down from $2.50) on shares of Clear Channel Outdoor in a research report on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clear Channel Outdoor in a research report on Friday, March 27th. Finally, Wells Fargo & Company lifted their price target on shares of Clear Channel Outdoor from $2.00 to $2.43 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $2.29.
Get Our Latest Stock Analysis on Clear Channel Outdoor
Insiders Place Their Bets
In related news, Director Raymond T. White sold 2,500,900 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $2.40, for a total value of $6,002,160.00. Following the completion of the sale, the director directly owned 91,003 shares of the company’s stock, valued at $218,407.20. The trade was a 96.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 26,239,967 shares of company stock worth $62,975,921. 7.70% of the stock is owned by company insiders.
Clear Channel Outdoor Profile
Clear Channel Outdoor Holdings, Inc (NYSE: CCO) is a global leader in out-of-home advertising, offering a wide range of static and digital displays across high-traffic environments. The company’s portfolio encompasses traditional roadside billboards, street furniture panels, transit advertising on buses and rail systems, and rapidly expanding digital networks. By combining broad geographic reach with state-of-the-art digital technology, Clear Channel Outdoor enables brands to engage consumers at key moments during their daily journeys.
Founded as a spin-off from Clear Channel Communications in 2005, Clear Channel Outdoor traces its origins to the early development of outdoor advertising in North America.
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