Permanent Capital Management LP Purchases Shares of 348,234 Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Permanent Capital Management LP purchased a new stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the 4th quarter, Holdings Channel reports. The firm purchased 348,234 shares of the business services provider’s stock, valued at approximately $477,000. Clear Channel Outdoor makes up 0.1% of Permanent Capital Management LP’s portfolio, making the stock its 29th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in Clear Channel Outdoor in the 3rd quarter valued at about $32,000. Jacksonville Wealth Management LLC purchased a new stake in Clear Channel Outdoor in the 4th quarter valued at about $62,000. Dynamic Technology Lab Private Ltd purchased a new stake in Clear Channel Outdoor in the 3rd quarter valued at about $65,000. Intech Investment Management LLC purchased a new stake in Clear Channel Outdoor in the 3rd quarter valued at about $107,000. Finally, Empowered Funds LLC purchased a new stake in Clear Channel Outdoor in the 4th quarter valued at about $216,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Stock Performance

Shares of NYSE:CCO opened at $1.29 on Friday. Clear Channel Outdoor Holdings, Inc. has a 1 year low of $1.19 and a 1 year high of $1.88. The stock has a market capitalization of $630.21 million, a P/E ratio of -4.43 and a beta of 3.05. The stock has a 50-day simple moving average of $1.39 and a 200-day simple moving average of $1.49.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reiterated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Monday, February 24th.

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.