Whitebox Advisors LLC purchased a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO – Free Report) during the second quarter, Holdings Channel.com reports. The fund purchased 1,621,786 shares of the business services provider’s stock, valued at approximately $2,287,000.
A number of other institutional investors also recently made changes to their positions in CCO. CCG Wealth Management LLC bought a new stake in Clear Channel Outdoor during the first quarter worth approximately $46,000. Point72 DIFC Ltd bought a new stake in shares of Clear Channel Outdoor in the 2nd quarter worth $55,000. Quadrature Capital Ltd acquired a new stake in shares of Clear Channel Outdoor in the fourth quarter valued at $68,000. XTX Topco Ltd grew its holdings in Clear Channel Outdoor by 28.4% during the second quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock worth $114,000 after acquiring an additional 17,957 shares during the period. Finally, Cowen AND Company LLC bought a new stake in Clear Channel Outdoor in the second quarter worth about $120,000. 85.52% of the stock is owned by institutional investors and hedge funds.
Clear Channel Outdoor Stock Down 1.2 %
Shares of NYSE CCO opened at $1.64 on Wednesday. The business has a fifty day simple moving average of $1.55 and a 200-day simple moving average of $1.53. The company has a market cap of $801.48 million, a price-to-earnings ratio of -2.13 and a beta of 3.07. Clear Channel Outdoor Holdings, Inc. has a 12 month low of $1.04 and a 12 month high of $2.06.
Insider Buying and Selling
In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 46,959 shares of Clear Channel Outdoor stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total transaction of $79,360.71. Following the transaction, 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.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on CCO shares. Wells Fargo & Company lowered shares of Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and reduced 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 set a $2.50 target price on shares of Clear Channel Outdoor in a report on Monday, August 12th.
View Our Latest Stock Analysis on CCO
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.
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