Cowen AND Company LLC Buys New Stake in Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Cowen AND Company LLC acquired a new stake in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 85,000 shares of the business services provider’s stock, valued at approximately $120,000.

Other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in Clear Channel Outdoor in the second quarter worth $1,114,000. Gamco Investors INC. ET AL lifted its holdings in shares of Clear Channel Outdoor by 21.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider’s stock worth $5,658,000 after acquiring an additional 610,500 shares during the last quarter. Apollo Management Holdings L.P. purchased a new position in shares of Clear Channel Outdoor during the 1st quarter worth about $426,000. Gabelli Funds LLC grew its holdings in Clear Channel Outdoor by 6.6% during the 1st quarter. Gabelli Funds LLC now owns 2,275,000 shares of the business services provider’s stock valued at $3,754,000 after purchasing an additional 140,000 shares during the last quarter. Finally, Genesee Capital Advisors LLC purchased a new stake in Clear Channel Outdoor in the 2nd quarter worth about $136,000. Institutional investors own 85.52% of the company’s stock.

Insider Transactions at Clear Channel Outdoor

In other Clear Channel Outdoor news, major shareholder Pacific Investment Management sold 46,959 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $1.69, for a total transaction of $79,360.71. Following the transaction, the insider now owns 104,812,998 shares of the company’s stock, valued at approximately $177,133,966.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.53% of the company’s stock.

Analysts Set New Price Targets

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

Clear Channel Outdoor Trading Up 3.0 %

NYSE CCO opened at $1.55 on Tuesday. 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 Holdings, Inc. has a 12 month low of $1.04 and a 12 month high of $2.06. The company’s 50-day moving average price is $1.54 and its 200-day moving average price is $1.54.

Clear Channel Outdoor (NYSE:CCO) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share (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 analysts’ expectations of $563.75 million. As a group, sell-side analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.29 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.