Inspire Investing LLC Buys New Shares in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Inspire Investing LLC purchased a new position in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 256,362 shares of the business services provider’s stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCO. Price T Rowe Associates Inc. MD lifted its position in Clear Channel Outdoor by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock worth $534,000 after buying an additional 17,901 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Clear Channel Outdoor by 28.4% in the 2nd 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 last quarter. Russell Investments Group Ltd. boosted its stake in shares of Clear Channel Outdoor by 8.6% in the 1st quarter. Russell Investments Group Ltd. now owns 290,550 shares of the business services provider’s stock valued at $479,000 after purchasing an additional 23,067 shares in the last quarter. CCG Wealth Management LLC bought a new position in shares of Clear Channel Outdoor during the 1st quarter valued at $46,000. Finally, Quadrature Capital Ltd purchased a new position in Clear Channel Outdoor in the 4th quarter worth $68,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 46,959 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CCO. Wells Fargo & Company cut 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 note on Thursday, September 19th. Barrington Research restated an “outperform” rating and set a $2.50 price target on shares of Clear Channel Outdoor in a research report on Monday, August 12th.

Clear Channel Outdoor Trading Down 0.3 %

Shares of NYSE:CCO opened at $1.58 on Friday. The company has a 50-day moving average price of $1.54 and a 200-day moving average price of $1.52. The company has a market cap of $769.71 million, a price-to-earnings ratio of -2.05 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.

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

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.