Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Arturo R. Moreno Purchases 250,000 Shares

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) major shareholder Arturo R. Moreno acquired 250,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the acquisition, the insider now owns 52,182,534 shares in the company, valued at $75,664,674.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Stock Up 12.0 %

Shares of CCO traded up $0.18 during mid-day trading on Wednesday, reaching $1.64. 6,546,472 shares of the company’s stock were exchanged, compared to its average volume of 1,979,178. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $1.10 and a 52-week high of $2.06. The company has a 50-day simple moving average of $1.56 and a two-hundred day simple moving average of $1.52. The company has a market cap of $799.43 million, a price-to-earnings ratio of -5.00 and a beta of 3.08.

Clear Channel Outdoor (NYSE:CCO) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $558.54 million during the quarter, compared to the consensus estimate of $563.75 million. As a group, equities research analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Clear Channel Outdoor

Institutional investors have recently modified their holdings of the company. Ground Swell Capital LLC purchased a new stake in Clear Channel Outdoor in the 3rd quarter worth approximately $34,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Clear Channel Outdoor in the third quarter valued at $34,000. Stratos Wealth Advisors LLC acquired a new position in Clear Channel Outdoor in the third quarter valued at $40,000. Point72 DIFC Ltd purchased a new position in Clear Channel Outdoor during the second quarter worth about $55,000. Finally, XTX Topco Ltd boosted its stake in Clear Channel Outdoor by 28.4% in the 2nd 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 last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.

About Clear Channel Outdoor

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.