Northern Trust Corp Acquires 22,619 Shares of Clear Channel Outdoor Holdings, Inc. (CCO)

Northern Trust Corp lifted its holdings in shares of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 542,933 shares of the business services provider’s stock after buying an additional 22,619 shares during the quarter. Northern Trust Corp owned about 0.15% of Clear Channel Outdoor worth $2,334,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Angelo Gordon & CO. L.P. lifted its stake in shares of Clear Channel Outdoor by 44.6% during the 2nd quarter. Angelo Gordon & CO. L.P. now owns 3,668,262 shares of the business services provider’s stock valued at $15,774,000 after buying an additional 1,131,946 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of Clear Channel Outdoor by 4.9% during the 2nd quarter. Gabelli Funds LLC now owns 3,027,638 shares of the business services provider’s stock valued at $13,019,000 after buying an additional 141,662 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Clear Channel Outdoor by 8.1% during the 2nd quarter. BlackRock Inc. now owns 2,541,788 shares of the business services provider’s stock valued at $10,930,000 after buying an additional 190,084 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Clear Channel Outdoor by 5.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,510,122 shares of the business services provider’s stock valued at $10,794,000 after buying an additional 127,680 shares in the last quarter. Finally, Zazove Associates LLC increased its holdings in Clear Channel Outdoor by 75.1% during the 2nd quarter. Zazove Associates LLC now owns 296,741 shares of the business services provider’s stock worth $1,276,000 after acquiring an additional 127,299 shares during the period. Institutional investors own 8.76% of the company’s stock.

Clear Channel Outdoor stock opened at $5.12 on Friday. The company has a market cap of $1.94 billion, a P/E ratio of 266.00 and a beta of 1.47. Clear Channel Outdoor Holdings, Inc. has a 1-year low of $3.90 and a 1-year high of $6.38.

Clear Channel Outdoor (NYSE:CCO) last posted its earnings results on Thursday, November 8th. The business services provider reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.08). The company had revenue of $663.74 million for the quarter, compared to analyst estimates of $655.32 million. On average, analysts forecast that Clear Channel Outdoor Holdings, Inc. will post -0.67 earnings per share for the current fiscal year.

A number of analysts recently weighed in on CCO shares. ValuEngine raised shares of Clear Channel Outdoor from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Barrington Research reaffirmed a “hold” rating on shares of Clear Channel Outdoor in a report on Thursday, November 15th. Finally, Zacks Investment Research raised shares of Clear Channel Outdoor from a “sell” rating to a “hold” rating in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Clear Channel Outdoor has an average rating of “Hold” and an average price target of $12.00.

WARNING: This piece of content was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/11/30/northern-trust-corp-acquires-22619-shares-of-clear-channel-outdoor-holdings-inc-cco.html.

Clear Channel Outdoor Profile

Clear Channel Outdoor Holdings, Inc, an outdoor advertising company, owns and operates advertising display faces in the United States and internationally. It operates in two segments, Americas Outdoor Advertising and International Outdoor Advertising. The company offers advertising services through billboards, including bulletins and posters; transit displays, which are advertising surfaces on various types of vehicles or within transit systems; street furniture displays, such as advertising surfaces on bus shelters, information kiosks, freestanding units, and other public structures; and other displays comprising spectaculars and wallscapes, as well as retail and other small displays.

Recommended Story: Hedge Funds

Institutional Ownership by Quarter for Clear Channel Outdoor (NYSE:CCO)

Receive News & Ratings for Clear Channel Outdoor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clear Channel Outdoor and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply