Aristeia Capital L.L.C. Has $958,000 Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Aristeia Capital L.L.C. lifted its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 679,664 shares of the business services provider’s stock after acquiring an additional 45,123 shares during the period. Aristeia Capital L.L.C. owned 0.14% of Clear Channel Outdoor worth $958,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCO. Point72 DIFC Ltd bought a new position in Clear Channel Outdoor in the 2nd quarter worth $55,000. Marshall Wace LLP acquired a new position in shares of Clear Channel Outdoor during the 2nd quarter worth about $671,000. Gabelli Funds LLC boosted its stake in Clear Channel Outdoor by 25.9% during the 2nd quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider’s stock valued at $4,040,000 after purchasing an additional 590,000 shares during the period. XTX Topco Ltd grew its holdings in Clear Channel Outdoor by 28.4% in the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock valued at $114,000 after buying an additional 17,957 shares during the last quarter. Finally, Cowen AND Company LLC bought a new position in Clear Channel Outdoor in the 2nd quarter worth approximately $120,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Clear Channel Outdoor Trading Up 0.6 %

CCO opened at $1.66 on Tuesday. The stock’s 50 day simple moving average is $1.55 and its 200-day simple moving average is $1.53. The stock has a market cap of $811.25 million, a PE ratio of -2.16 and a beta of 3.07. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $1.04 and a 1 year high of $2.06.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $558.54 million for the quarter, compared to the consensus estimate of $563.75 million. Equities analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Clear Channel Outdoor

In other news, major shareholder Pacific Investment Management sold 46,959 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $1.69, for a total value of $79,360.71. Following the sale, the insider now directly owns 104,812,998 shares in the company, valued at approximately $177,133,966.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CCO shares. Barrington Research restated an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Monday, August 12th. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $2.75 to $1.75 in a research report on Thursday, September 19th.

Clear Channel Outdoor Company Profile

Clear Channel Outdoor Holdings, Inc operates as an out-of-home advertising company in the United States, Europe, and internationally. It operates through America, Airports, Europe-North, and Other segments. The company provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures, mechanical devices, moving parts, and other embellishments; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, news racks, and other public structures; transit displays for rail stations and on various types of vehicles; retail displays; and airport advertising displays.