Point72 DIFC Ltd Makes New $55,000 Investment in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Point72 DIFC Ltd acquired a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 38,905 shares of the business services provider’s stock, valued at approximately $55,000.

A number of other institutional investors have also modified their holdings of the company. CCG Wealth Management LLC acquired a new position in Clear Channel Outdoor during the first quarter valued at approximately $46,000. Quadrature Capital Ltd acquired a new position in shares of Clear Channel Outdoor during the 4th quarter valued at $68,000. XTX Topco Ltd lifted its holdings in shares of Clear Channel Outdoor by 28.4% during the 2nd quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 17,957 shares in the last quarter. Cowen AND Company LLC acquired a new stake in Clear Channel Outdoor in the 2nd quarter valued at $120,000. Finally, Genesee Capital Advisors LLC purchased a new position in Clear Channel Outdoor in the second quarter valued at about $136,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Price Performance

Shares of Clear Channel Outdoor stock opened at $1.60 on Friday. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $1.04 and a 1-year high of $2.06. The company has a market capitalization of $781.93 million, a PE ratio of -2.08 and a beta of 3.07. The business has a 50-day moving average of $1.54 and a 200-day moving average of $1.53.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings data 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 business had revenue of $558.54 million during the quarter, compared to analysts’ expectations of $563.75 million. On average, equities analysts expect that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 46,959 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.53% of the company’s stock.

Analyst Upgrades and Downgrades

CCO has been the subject of several analyst reports. 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. Wells Fargo & Company cut Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $2.75 to $1.75 in a report on Thursday, September 19th.

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.