Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 4.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 584,299 shares of the business services provider’s stock after selling 27,723 shares during the period. Rhumbline Advisers owned approximately 0.12% of Clear Channel Outdoor worth $824,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CCG Wealth Management LLC acquired a new position in Clear Channel Outdoor during the 1st quarter worth approximately $46,000. Quadrature Capital Ltd acquired a new position in shares of Clear Channel Outdoor in the 4th quarter valued at approximately $68,000. Genesee Capital Advisors LLC acquired a new position in shares of Clear Channel Outdoor in the 2nd quarter valued at approximately $136,000. AEGON USA Investment Management LLC raised its position in shares of 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 valued at $218,000 after purchasing an additional 53,736 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Clear Channel Outdoor by 63.3% in the 1st quarter. BNP Paribas Financial Markets now owns 212,246 shares of the business services provider’s stock valued at $350,000 after purchasing an additional 82,286 shares in the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Clear Channel Outdoor Trading Up 0.6 %

Shares of NYSE CCO opened at $1.66 on Tuesday. Clear Channel Outdoor Holdings, Inc. has a twelve month low of $1.04 and a twelve month high of $2.06. The company has a market capitalization of $811.25 million, a price-to-earnings ratio of -2.16 and a beta of 3.07. The business has a 50 day simple moving average of $1.55 and a 200-day simple moving average of $1.53.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $558.54 million during the quarter, compared to analyst estimates of $563.75 million. As a group, equities analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current year.

Insider Activity

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

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.