Cibc World Markets Corp Makes New Investment in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Cibc World Markets Corp acquired a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 33,008 shares of the business services provider’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CCO. Jacksonville Wealth Management LLC purchased a new stake in Clear Channel Outdoor during the 4th quarter valued at $62,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Clear Channel Outdoor during the third quarter valued at about $65,000. Intech Investment Management LLC purchased a new stake in shares of Clear Channel Outdoor during the third quarter worth about $107,000. Empowered Funds LLC bought a new stake in shares of Clear Channel Outdoor in the fourth quarter worth about $216,000. Finally, XTX Topco Ltd increased its holdings in Clear Channel Outdoor by 182.6% during the 3rd quarter. XTX Topco Ltd now owns 229,459 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 148,271 shares during the period. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Trading Down 1.3 %

Shares of CCO opened at $1.13 on Friday. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.09 and a 1-year high of $1.88. The firm’s 50-day moving average price is $1.31 and its 200-day moving average price is $1.46. The firm has a market capitalization of $551.32 million, a price-to-earnings ratio of -3.88 and a beta of 3.05.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and issued a $2.50 price objective on shares of Clear Channel Outdoor in a research report on Monday, February 24th.

About Clear Channel Outdoor

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.