Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Acquired by Jane Street Group LLC

Jane Street Group LLC lifted its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 56.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,116,893 shares of the business services provider’s stock after buying an additional 404,082 shares during the period. Jane Street Group LLC’s holdings in Clear Channel Outdoor were worth $1,787,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its position in Clear Channel Outdoor by 44.0% during the 2nd quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider’s stock worth $10,339,000 after acquiring an additional 2,242,205 shares during the period. Whitebox Advisors LLC purchased a new position in shares of Clear Channel Outdoor in the second quarter worth about $2,287,000. Cerity Partners LLC acquired a new stake in shares of Clear Channel Outdoor during the third quarter worth about $1,730,000. Gabelli Funds LLC boosted its position in Clear Channel Outdoor by 25.9% in the second quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider’s stock valued at $4,040,000 after buying an additional 590,000 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Clear Channel Outdoor in the 2nd quarter worth approximately $671,000. 85.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CCO. Wells Fargo & Company downgraded shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $2.75 to $1.75 in a report on Thursday, September 19th. Barrington Research reaffirmed 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 reduced their price objective on Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research note 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, Clear Channel Outdoor presently has a consensus rating of “Hold” and a consensus target price of $2.16.

Clear Channel Outdoor Price Performance

NYSE:CCO opened at $1.39 on Thursday. The company has a 50 day moving average price of $1.53 and a 200-day moving average price of $1.53. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.29 and a 1-year high of $2.06. The firm has a market cap of $679.82 million, a price-to-earnings ratio of -4.79 and a beta of 3.05.

Insider Activity at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Arturo R. Moreno bought 250,000 shares of Clear Channel Outdoor stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $1.45 per share, with a total value of $362,500.00. Following the purchase, the insider now directly owns 52,182,534 shares in the company, valued at $75,664,674.30. This represents a 0.48 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.53% of the stock is owned by company insiders.

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.