Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) Major Shareholder Arturo R. Moreno Buys 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 dated Monday, November 4th. The shares were purchased at an average price of $1.45 per share, for a total transaction of $362,500.00. Following the completion of the transaction, the insider now owns 52,182,534 shares of the company’s stock, valued at $75,664,674.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Clear Channel Outdoor Stock Performance

Shares of NYSE CCO opened at $1.64 on Thursday. The business has a fifty day moving average of $1.56 and a two-hundred day moving average of $1.52. Clear Channel Outdoor Holdings, Inc. has a 52-week low of $1.10 and a 52-week high of $2.06. The stock has a market cap of $799.43 million, a PE ratio of -5.64 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) 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 analysts’ expectations of $563.75 million. Analysts predict that Clear Channel Outdoor Holdings, Inc. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CCO. Gamco Investors INC. ET AL increased its holdings in Clear Channel Outdoor by 21.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,429,000 shares of the business services provider’s stock valued at $5,658,000 after purchasing an additional 610,500 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Clear Channel Outdoor during the second quarter worth $1,114,000. Gabelli Funds LLC increased its stake in shares of Clear Channel Outdoor by 25.9% in the second quarter. Gabelli Funds LLC now owns 2,865,000 shares of the business services provider’s stock valued at $4,040,000 after buying an additional 590,000 shares in the last quarter. Millennium Management LLC increased its stake in shares of Clear Channel Outdoor by 44.0% in the second quarter. Millennium Management LLC now owns 7,332,360 shares of the business services provider’s stock valued at $10,339,000 after buying an additional 2,242,205 shares in the last quarter. Finally, Whitebox Advisors LLC bought a new position in shares of Clear Channel Outdoor in the second quarter valued at about $2,287,000. Institutional investors own 85.52% of the company’s stock.

Clear Channel Outdoor Company 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.