Centiva Capital LP Reduces Position in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Centiva Capital LP reduced its stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 18.3% during the 3rd quarter, Holdings Channel reports. The fund owned 41,242 shares of the business services provider’s stock after selling 9,233 shares during the period. Centiva Capital LP’s holdings in Clear Channel Outdoor were worth $66,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in shares of Clear Channel Outdoor by 47.3% during the 2nd quarter. SG Americas Securities LLC now owns 291,755 shares of the business services provider’s stock worth $411,000 after purchasing an additional 93,686 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Clear Channel Outdoor during the second quarter worth approximately $1,114,000. AEGON USA Investment Management LLC grew its stake in Clear Channel Outdoor by 53.4% in the 2nd quarter. AEGON USA Investment Management LLC now owns 154,449 shares of the business services provider’s stock worth $218,000 after acquiring an additional 53,736 shares during the period. Bank of New York Mellon Corp raised its holdings in Clear Channel Outdoor by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,406,519 shares of the business services provider’s stock valued at $1,983,000 after acquiring an additional 49,714 shares during the last quarter. Finally, Cowen AND Company LLC purchased a new position in shares of Clear Channel Outdoor during the 2nd quarter worth $120,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

Shares of Clear Channel Outdoor stock opened at $1.50 on Friday. The business’s fifty day moving average price is $1.56 and its 200 day moving average price is $1.53. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.29 and a twelve month high of $2.06. The stock has a market capitalization of $731.17 million, a P/E ratio of -5.16 and a beta of 3.05.

Insider Transactions at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $1.45 per share, with a total value of $362,500.00. Following the transaction, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. This trade represents a 0.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCO. Wells Fargo & Company downgraded Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $2.75 to $1.75 in a research report on Thursday, September 19th. Barrington Research restated an “outperform” rating and issued a $2.50 price target on shares of Clear Channel Outdoor in a report on Thursday, October 31st. Finally, TD Cowen cut their price objective on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating on the stock in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.16.

Clear Channel Outdoor 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.