Cowen AND Company LLC Buys Shares of 85,000 Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Cowen AND Company LLC bought a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 85,000 shares of the business services provider’s stock, valued at approximately $120,000.

A number of other large investors have also made changes to their positions in CCO. Gamco Investors INC. ET AL grew its position in shares of Clear Channel Outdoor by 21.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider’s stock valued at $5,658,000 after acquiring an additional 610,500 shares during the period. Gabelli Funds LLC increased its position in Clear Channel Outdoor by 6.6% in the first quarter. Gabelli Funds LLC now owns 2,275,000 shares of the business services provider’s stock worth $3,754,000 after buying an additional 140,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Clear Channel Outdoor by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,406,519 shares of the business services provider’s stock worth $1,983,000 after buying an additional 49,714 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Clear Channel Outdoor during the 2nd quarter valued at about $1,114,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Clear Channel Outdoor by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 322,600 shares of the business services provider’s stock valued at $534,000 after acquiring an additional 17,901 shares during the period. 85.52% of the stock is currently owned by institutional investors.

Insider Transactions at Clear Channel Outdoor

In related news, major shareholder Pacific Investment Management sold 46,959 shares of the firm’s 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 completion of the transaction, the insider now directly owns 104,812,998 shares of the company’s stock, valued at $177,133,966.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barrington Research restated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a research note on Monday, August 12th.

Clear Channel Outdoor Stock Up 3.0 %

NYSE:CCO opened at $1.55 on Tuesday. The business’s 50-day simple moving average is $1.54 and its two-hundred day simple moving average is $1.54. Clear Channel Outdoor Holdings, Inc. has a 52 week low of $1.04 and a 52 week high of $2.06. The stock has a market cap of $755.43 million, a PE ratio of -2.01 and a beta of 3.07.

Clear Channel Outdoor (NYSE:CCO) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $558.54 million during the quarter, compared to the consensus estimate of $563.75 million. Sell-side analysts anticipate that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share 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.