Credit Industriel ET Commercial bought a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 847,960 shares of the business services provider’s stock, valued at approximately $2,010,000.
A number of other hedge funds also recently made changes to their positions in the business. Ieq Capital LLC boosted its holdings in shares of Clear Channel Outdoor by 8.3% in the 4th quarter. Ieq Capital LLC now owns 58,889 shares of the business services provider’s stock worth $130,000 after buying an additional 4,493 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Clear Channel Outdoor by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 211,124 shares of the business services provider’s stock worth $234,000 after buying an additional 8,976 shares during the last quarter. SG Americas Securities LLC raised its position in Clear Channel Outdoor by 61.8% in the fourth quarter. SG Americas Securities LLC now owns 23,618 shares of the business services provider’s stock worth $52,000 after acquiring an additional 9,019 shares during the period. Captrust Financial Advisors purchased a new position in Clear Channel Outdoor in the fourth quarter valued at about $27,000. Finally, EntryPoint Capital LLC bought a new position in shares of Clear Channel Outdoor during the 4th quarter valued at approximately $28,000. 85.52% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently commented on CCO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clear Channel Outdoor in a research note on Wednesday, June 24th. TD Cowen restated a “hold” rating and issued a $2.43 target price (down from $2.50) on shares of Clear Channel Outdoor in a research note on Monday, April 6th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $2.29.
Clear Channel Outdoor Price Performance
Shares of NYSE:CCO opened at $2.40 on Tuesday. The firm has a fifty day moving average price of $2.40 and a two-hundred day moving average price of $2.32. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.00 and a one year high of $2.43. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -13.36 and a beta of 1.95.
Clear Channel Outdoor (NYSE:CCO – Get Free Report) last released its quarterly 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 analysts’ expectations of $348.71 million. Equities research analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.04 EPS for the current fiscal year.
Insider Transactions at Clear Channel Outdoor
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 transaction of $6,002,160.00. Following the completion of the transaction, the director directly owned 91,003 shares in the company, valued at $218,407.20. The trade was a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 26,239,967 shares of company stock worth $62,975,921 over the last three months. 7.20% of the stock is currently owned by company insiders.
About Clear Channel Outdoor
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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