Groupe la Francaise purchased a new position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,271,940 shares of the business services provider’s stock, valued at approximately $3,014,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Benefit Street Partners LLC bought a new stake in Clear Channel Outdoor in the 4th quarter worth approximately $3,310,000. Gamco Investors INC. ET AL increased its position in Clear Channel Outdoor by 11.8% in the first quarter. Gamco Investors INC. ET AL now owns 9,085,775 shares of the business services provider’s stock worth $21,533,000 after purchasing an additional 959,400 shares during the last quarter. Sentinel Dome Partners LLC purchased a new stake in Clear Channel Outdoor during the fourth quarter valued at $3,470,000. Man Investment Partners US LP purchased a new stake in Clear Channel Outdoor during the fourth quarter valued at $4,612,000. Finally, Occam Crest Management LP lifted its position in Clear Channel Outdoor by 423.7% during the fourth quarter. Occam Crest Management LP now owns 3,404,300 shares of the business services provider’s stock valued at $7,524,000 after purchasing an additional 2,754,300 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.
Insider Buying and Selling
In related news, Director Raymond T. White sold 23,435,796 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $2.40, for a total value of $56,245,910.40. Following the sale, the director directly owned 187,371 shares of the company’s stock, valued at $449,690.40. This represents a 99.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 26,239,967 shares of company stock worth $62,975,921. Corporate insiders own 7.70% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Report on Clear Channel Outdoor
Clear Channel Outdoor Stock Up 0.6%
NYSE CCO opened at $2.42 on Friday. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $1.00 and a 52 week high of $2.44. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -13.47 and a beta of 1.95. The company has a fifty day moving average of $2.41 and a two-hundred day moving average of $2.35.
Clear Channel Outdoor (NYSE:CCO – Get Free Report) last announced its earnings results on Tuesday, May 5th. The business services provider reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $373.86 million for the quarter, compared to analyst estimates of $348.71 million. Equities research analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.06 EPS for the current year.
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.
Read More
- Five stocks we like better than Clear Channel Outdoor
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Want to see what other hedge funds are holding CCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report).
Receive News & Ratings for Clear Channel Outdoor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor and related companies with MarketBeat.com's FREE daily email newsletter.
