CCG Wealth Management LLC Buys Shares of 27,634 Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

CCG Wealth Management LLC bought a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the 1st quarter, Holdings Channel.com reports. The fund bought 27,634 shares of the business services provider’s stock, valued at approximately $46,000.

Several other hedge funds have also recently added to or reduced their stakes in CCO. Carronade Capital Management LP purchased a new position in Clear Channel Outdoor during the 3rd quarter valued at about $1,580,000. Legion Partners Asset Management LLC increased its holdings in Clear Channel Outdoor by 7.1% during the 3rd quarter. Legion Partners Asset Management LLC now owns 26,530,196 shares of the business services provider’s stock valued at $41,918,000 after acquiring an additional 1,753,407 shares in the last quarter. SG Americas Securities LLC increased its holdings in Clear Channel Outdoor by 41.4% during the 4th quarter. SG Americas Securities LLC now owns 202,741 shares of the business services provider’s stock valued at $369,000 after acquiring an additional 59,324 shares in the last quarter. Requisite Capital Management LLC increased its holdings in Clear Channel Outdoor by 100.0% during the 4th quarter. Requisite Capital Management LLC now owns 400,000 shares of the business services provider’s stock valued at $728,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in Clear Channel Outdoor by 40.7% during the 4th quarter. Wolverine Asset Management LLC now owns 1,390,168 shares of the business services provider’s stock valued at $2,530,000 after acquiring an additional 402,032 shares in the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Barrington Research restated an “outperform” rating and set a $2.50 target price on shares of Clear Channel Outdoor in a report on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.16.

Clear Channel Outdoor Trading Up 1.4 %

Shares of NYSE CCO traded up $0.02 during midday trading on Monday, reaching $1.43. 1,238,649 shares of the stock were exchanged, compared to its average volume of 2,130,639. The company has a market capitalization of $698.86 million, a P/E ratio of -1.86 and a beta of 3.09. 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 50 day moving average price of $1.45 and a 200-day moving average price of $1.61.

Clear Channel Outdoor (NYSE:CCO) last issued its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $481.75 million for the quarter, compared to analysts’ expectations of $480.69 million. During the same quarter last year, the firm earned ($0.23) earnings per share. On average, analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.25 earnings per share for the current year.

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.