Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Pacific Investment Management Sells 12,584 Shares of Stock

Clear Channel Outdoor Holdings, Inc. (NYSE:CCOGet Free Report) major shareholder Pacific Investment Management sold 12,584 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1.55, for a total value of $19,505.20. Following the completion of the sale, the insider now owns 104,859,957 shares of the company’s stock, valued at approximately $162,532,933.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Performance

Shares of CCO opened at $1.57 on Friday. The company has a market capitalization of $757.02 million, a P/E ratio of -2.41 and a beta of 2.88. Clear Channel Outdoor Holdings, Inc. has a one year low of $0.99 and a one year high of $2.06. The stock has a 50-day moving average price of $1.69 and a 200 day moving average price of $1.55.

Clear Channel Outdoor (NYSE:CCOGet Free Report) last released its earnings results on Monday, February 26th. The business services provider reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $632.11 million for the quarter, compared to the consensus estimate of $611.62 million. During the same period in the prior year, the business earned $0.24 EPS. As a group, equities research analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Optas LLC bought a new position in Clear Channel Outdoor during the 3rd quarter worth approximately $27,000. Parallax Volatility Advisers L.P. bought a new position in Clear Channel Outdoor during the 3rd quarter worth approximately $30,000. Raymond James & Associates lifted its holdings in Clear Channel Outdoor by 76.9% during the 4th quarter. Raymond James & Associates now owns 29,900 shares of the business services provider’s stock worth $31,000 after buying an additional 13,000 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Clear Channel Outdoor during the 1st quarter worth approximately $35,000. Finally, Alpine Global Management LLC bought a new position in Clear Channel Outdoor during the 4th quarter worth approximately $36,000. Institutional investors own 85.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CCO shares. Barrington Research reiterated an “outperform” rating and issued a $2.50 target price on shares of Clear Channel Outdoor in a research note on Tuesday, February 27th. Morgan Stanley increased their price target on Clear Channel Outdoor from $1.50 to $2.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. Wells Fargo & Company raised Clear Channel Outdoor from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $1.50 to $2.75 in a report on Wednesday, December 20th. Finally, raised Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Clear Channel Outdoor has a consensus rating of “Hold” and an average price target of $2.16.

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Clear Channel Outdoor Company Profile

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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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