Renaissance Technologies LLC increased its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) by 10.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,725,692 shares of the business services provider’s stock after acquiring an additional 265,303 shares during the period. Renaissance Technologies LLC owned about 0.54% of Clear Channel Outdoor worth $6,460,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 140 Summer Partners LP bought a new position in Clear Channel Outdoor in the 4th quarter valued at $8,806,000. Barclays PLC grew its holdings in shares of Clear Channel Outdoor by 3,017.0% during the third quarter. Barclays PLC now owns 4,109,743 shares of the business services provider’s stock worth $6,493,000 after purchasing an additional 3,977,895 shares during the last quarter. Occam Crest Management LP increased its stake in shares of Clear Channel Outdoor by 423.7% in 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 buying an additional 2,754,300 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Clear Channel Outdoor in the fourth quarter valued at about $5,925,000. Finally, Dark Forest Capital Management LP acquired a new position in Clear Channel Outdoor during the 3rd quarter worth about $3,613,000. 85.52% of the stock is owned by institutional investors and hedge funds.
Clear Channel Outdoor Stock Performance
Shares of CCO opened at $2.42 on Wednesday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -13.42 and a beta of 1.95. The business’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $2.36. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $1.02 and a 52 week high of $2.44.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Clear Channel Outdoor in a report on Wednesday, June 24th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Clear Channel Outdoor presently 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 other Clear Channel Outdoor news, Director Raymond T. White sold 2,500,900 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $2.40, for a total transaction of $6,002,160.00. Following the transaction, the director directly owned 91,003 shares in the company, valued at approximately $218,407.20. This represents a 96.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 26,239,967 shares of company stock worth $62,975,921. Insiders own 7.20% of the company’s stock.
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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