Arturo R. Moreno Acquires 250,000 Shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCOGet Free Report) major shareholder Arturo R. Moreno acquired 250,000 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average price of $1.45 per share, with a total value of $362,500.00. Following the completion of the acquisition, the insider now owns 52,182,534 shares in the company, valued at approximately $75,664,674.30. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Clear Channel Outdoor Stock Up 12.0 %

Shares of Clear Channel Outdoor stock traded up $0.18 during trading hours on Wednesday, reaching $1.64. 6,546,472 shares of the stock traded hands, compared to its average volume of 1,979,178. The company has a 50 day moving average price of $1.56 and a 200 day moving average price of $1.52. The firm has a market capitalization of $799.43 million, a price-to-earnings ratio of -5.00 and a beta of 3.08. Clear Channel Outdoor Holdings, Inc. has a one year low of $1.10 and a one year high of $2.06.

Clear Channel Outdoor (NYSE:CCOGet Free Report) last released its 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 business had revenue of $558.54 million for 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 year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCO. Wells Fargo & Company lowered Clear Channel Outdoor from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $2.75 to $1.75 in a research note on Thursday, September 19th. TD Cowen lowered their price target on shares of Clear Channel Outdoor from $2.60 to $2.40 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Barrington Research restated an “outperform” rating and set a $2.50 price objective on shares of Clear Channel Outdoor in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.16.

View Our Latest Analysis on CCO

Hedge Funds Weigh In On Clear Channel Outdoor

Institutional investors have recently bought and sold shares of the stock. Ground Swell Capital LLC purchased a new position in shares of Clear Channel Outdoor during the 3rd quarter worth about $34,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Clear Channel Outdoor during the 3rd quarter worth approximately $34,000. Stratos Wealth Advisors LLC acquired a new position in Clear Channel Outdoor during the 3rd quarter valued at about $40,000. Point72 DIFC Ltd purchased a new position in shares of Clear Channel Outdoor in the 2nd quarter valued at approximately $55,000. Finally, XTX Topco Ltd lifted its stake in shares of Clear Channel Outdoor by 28.4% during the second quarter. XTX Topco Ltd now owns 81,188 shares of the business services provider’s stock worth $114,000 after buying an additional 17,957 shares during the period. 85.52% of the stock is owned by hedge funds and other institutional investors.

About Clear Channel Outdoor

(Get Free Report)

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.

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